Stocks – U.S. Futures Rise as Washington, Beijing Close in on Trade Deal 

Investing.com – U.S. futures rose on Monday on reports that the U.S. and China are closing in on a trade deal.

Beijing-backed Global Times said that the two were “very close” to a deal, which added to optimism from China’s announcement over the weekend that it plans to improve protection for intellectual property rights. IP rights was one of the main sticking points in negotiations with the U.S.

U.S. national security adviser Robert O’Brien also said on Saturday a deal was possible by the end of the year.

The rose 27 points or 0.3% by 6:40 AM ET (11:40 GMT), while gained 66 points or 0.2% and inched up 6 points or 0.2%.

Tiffany & Co (NYSE:) was among the top gainers in premarket trade, rising 5.9% after LVMH (OTC:) said it had reached an agreement to buy the U.S. jeweler for $16.2 billion. Tesla Inc (NASDAQ:) rose 3.8% after Elon Musk tweeted that orders for its Cybertruck have reached 200,000 just three days after its launch.

TD Ameritrade (NASDAQ:) gained 2.4% after reports that shareholders will receive 1.0836 of The Charles Schwab Corporation (NYSE:) shares in a $26 billion all-stock deal.

Elsewhere, Uber Technologies (NYSE:) slumped 5.4% after it was stripped of its London license for the second time in two years, as the city’s regulator said the ride-sharing company put passenger safety at risk.

On the data front, the index comes out at 10:30 AM ET, while Federal Reserve Chair Jerome Powell will speak at the Greater Providence Chamber of Commerce dinner late on Monday.

In commodities, fell 0.4% to $1,464.40 a troy ounce, while the , which measures the greenback against a basket of six major currencies, was flat at 98.205. slipped 0.1% to $57.73 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.