Stocks – U.S. Futures Rebound as China, U.S. Said to Agree to Cancel Some Tariffs 

Investing.com – U.S. futures rebounded on Thursday, after the Chinese commerce ministry said Beijing and Washington have agreed to phase out tariffs imposed during their 16-month long trade war.

“The trade war started with tariffs, and should end with the cancellation of tariffs,” ministry spokesman Gao Feng said at a news briefing. Cancelling tariffs is vital to the phase one trade agreement, which both sides have agreed to do as negotiation progress is made, he added.

The two sides are working toward signing a deal this month but have yet to decide on a location for U.S. President Donald Trump and Chinese President Xi Jinping to meet.

futures were up 41 points or 0.5% by 6:40 AM ET (10:40 GMT), while gained 148 points or 0.5% and rose 12 points or 0.4%.

Nielsen Holdings (NYSE:) was in focus, after the media research company announced it plans to split into two independently public traded companies.

Qualcomm (NASDAQ:) gained 6.1% in premarket trade after its earnings came in better than expected during its fiscal fourth quarter, while DexCom (NASDAQ:) surged 19.2% after the glucose monitoring manufacturer raised its full-year outlook. Square (NYSE:) inched up 1.4% after giving an upbeat earnings forecast for the current quarter.

Elsewhere, Roku (NASDAQ:) tumbled 13.8% despite beating on the top and bottom lines, reporting an increase in users and raising its full-year guidance. TripAdvisor (NASDAQ:) dropped 4.9% in after-hours trading after its earnings fell short of estimates, while Expedia (NASDAQ:) plunged 13.5% after reporting gross bookings came in shy of forecasts.

On the data front, claims numbers are released at 8:30 AM ET.

In commodities, fell 0.6% to $1,484.10 a troy ounce, while the , which measures the greenback against a basket of six major currencies, was down 0.1% to 97.703. surged 1.3% to $57.09 a barrel.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.