December S&P 500 E-Mini futures (ESZ25) are up +0.91%, and December Nasdaq 100 E-Mini futures (NQZ25) are up +1.28% this morning, pointing to a sharply higher open on Wall Street as signs that the U.S. and China were nearing a trade deal boosted risk appetite at the start of a busy week.
Top trade negotiators from the U.S. and China said on Sunday that they reached an initial consensus on multiple contentious issues, including tariffs, shipping fees, fentanyl, and export controls. China’s official Communist Party mouthpiece urged the world’s biggest economies to “jointly safeguard hard-won achievements” from recent trade negotiations, ahead of Thursday’s high-stakes meeting between U.S. President Donald Trump and Chinese leader Xi Jinping. “I think we have a very successful framework for the leaders to discuss on Thursday,” said U.S. Treasury Secretary Scott Bessent.
