Wall Street poised to open higher as U.S.-China talks enter second day

U.S. stocks

Trump to meet with Liu He today

U.S. stocks were set to open higher on Friday on growing optimism around trade negotiations between Washington and Beijing. President Donald Trump told reporters that negotiations went “very well” on Thursday, though he did not go into further detail.

The talks are expected to continue today. Trump is also scheduled to meet with top Chinese negotiator Liu He at the White House.

At 5:24 a.m. ET Friday, the blue-chip Dow futures were up 232 points, or about 0.88% to 26,716. The S&P 500 futures rose 26.88 points, or around 0.91%, while the tech-heavy Nasdaq 100 futures were seen gaining 85.25 points, or roughly 1.10% to 7,845.50.

Hopes on Brexit deal lift pound

The British pound climbed more than €1.138 against the euro and $1.25 against the U.S. dollar on Friday morning after European Union top negotiator, Michel Barnier said he had a “constructive” meeting with UK Brexit secretary Stephen Barclay and the British team.

European Council president Donald Tusk also issued positive remarks on Brexit talks. “I have received promising signals from the Taoiseach (Irish prime minister) that a deal is still possible. Technical talks are taking place in Brussels as we speak,” Tusk said. “Of course, there is no guarantee of success and the time is practically up. But even the slightest chance must be used.”

The border that separates the Republic of Ireland and Northern Ireland has been the main stumbling block to reaching a Brexit deal.

Iranian tanker struck by two missiles in the Red Sea; oil prices rally

Oil prices rose on Friday morning after two missiles hit an Iranian tanker in the Red Sea near the coast of Saudi Arabia. The missiles appeared to have been fired from Saudi Arabia, according to a spokesman for the National Iranian Tanker Company, who spoke with Iran’s Press TV.

The incident comes amid worsening relations between Saudi Arabia and Iran. In September, cruise missiles and drones struck a Saudi Arabian oil processing facility, and the blame was laid on Iran.

At 5:24 a.m. ET, U.S. West Texas Intermediate crude futures were up $0.92, or around 1.72%, at $54.47 per barrel. International Brent crude oil futures were at $60.08 a barrel, up $0.98, or about 1.66%.