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* Futures up: Dow 0.67%, S&P 0.65%, Nasdaq 0.59%
By Shreyashi Sanyal
May 24 (Reuters) - U.S. stock index futures edged higher on
Friday, attempting to bounce back from the previous session's
steep sell-off, on cautious optimism after President Donald
Trump predicted a swift end to the ongoing tariff war with
China.
Trump said on Thursday that complaints against Huawei
Technologies Co Ltd HWT.UL might be resolved within the
framework of a U.S.-China trade deal. However, no high-level talks have been scheduled between the
two countries since the last round of negotiations in Washington
two weeks ago. Trump will meet his Chinese counterpart Xi
Jinping at the G20 meeting next month in Japan. Earlier this week, while Washington temporarily relaxed its
ban on Huawei, there were reports that it was planning a similar
ban on another Chinese firm, making investors worry that such
moves would have lasting effects on the global technology supply
chain.
In the previous session, the S&P 500 technology .SPLRCT
and industrials .SPLRCI sectors closed 1.5% lower.
Technology giants Apple Inc AAPL.O and Microsoft Corp
MSFT.O rose about 1% in premarket trading, while industrial
bellwethers Boeing Co BA.N and 3M Co MMM.N gained over 1%.
Reuters reported the Federal Aviation Administration
expects to approve Boeing's 737 MAX jet to return to service as
soon as late June. At 7:20 a.m. ET, Dow e-minis 1YMc1 were up 171 points, or
0.67%. S&P 500 e-minis ESc1 were up 18.25 points, or 0.65% and
Nasdaq 100 e-minis NQc1 were up 43.25 points, or 0.59%.
The daily exchanges between the United States and China have
kept investors on edge, putting the S&P 500 index .SPX on
track to post its biggest monthly decline since the December
sell-off.
Following a sell-off on Thursday, the S&P 500 is now 4.7%
off its all-time high hit on May 1.
Among other stocks, Foot Locker Inc FL.N dropped 6.7%
after the footwear retailer missed quarterly profit and
same-store sales estimates.
Autodesk Inc ADSK.O fell 7.4% after the software maker
reported quarterly earnings below expectations.
Total System Services Inc TSS.N jumped 6.4% after
Bloomberg reported Global Payments Inc GPN.N has held
preliminary tie-up talks with the payment solutions provider.
Global Payments' shares rose 1.4%. On the macro front, a U.S. Commerce Department report is
likely to show April durable goods declined 2%, after a 2.6%
rise in March. The data is due at 8:30 a.m. ET.