U.S. Equity Futures Rally After Xi Backs Free Trade in Speech
- China will lower auto import tariff, President Xi Jinping says
- S&P 500 futures rise as much as 1.5%, Nasdaq futures gain 2%
Bevan Says Trump Political Risk Is 'Minor League' Compared to China-U.S. Protectionism, Earnings
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U.S. stock-index futures extended gains after China’s President Xi Jinping reiterated pledges to open sectors from banking to auto manufacturing in a keynote address at the Boao Forum in Asia.
Futures contracts on the S&P 500 Index gained as much as 1.5 percent after Xi said China is moving forward on economic globalization. Nasdaq 100 futures increased as much as 2 percent, while those on the Dow Jones Industrial Average climbed 1.5 percent.