US STOCKS-Futures edge higher as China fuels trade deal optimism

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* Futures up: Dow 0.18%, S&P 0.17%, Nasdaq 0.29%

By Arjun Panchadar
Nov 22 (Reuters) - U.S. stock index futures rose on Friday
as latest comments from China lifted hopes of a trade deal after
conflicting headlines this week knocked Wall Street off record
highs.
Beijing said it wanted to work out an initial trade pact
with Washington "on the basis of mutual respect and equality"
after reports earlier in the week suggested that a truce could
be delayed into 2020. Global shares have retreated from the 22-month highs scaled
in recent weeks on hopes of a resolution to the trade war that
has dented business sentiment, curtailed investment and hurt
economic growth. MKTS/GLOB
The benchmark S&P 500 index is on course to end the week
with its first decline in seven, while the Nasdaq is eyeing its
first weekly drop in eight. A largely better-than-expected
corporate earnings season also contributed to the rally.
Investors now await U.S. manufacturing and services sector
data, as well as a consumer sentiment survey by the University
of Michigan to gauge the fallout of the dispute on the domestic
economy, which has so far proven fairly resilient.
At 7:20 a.m. ET, Dow e-minis 1YMcv1 were up 49 points, or
0.18%. S&P 500 e-minis EScv1 were up 5.25 points, or 0.17% and
Nasdaq 100 e-minis NQcv1 were up 24.25 points, or 0.29%.
Among stocks trading premarket, Nordstrom Inc JWN.N rose
8.5% after the retailer raised its 2019 forecast and reported
third-quarter profit above expectations. Ross Stores Inc ROST.O gained 2.1% as the off-price
retailer beat quarterly profit and revenue estimates and issued
an upbeat forecast. Gap Inc GPS.N was up 1.7% after edging past lowered
expectations for quarterly profit and reiterated its plan to
separate Old Navy. However, shares of Tesla Inc TSLA.O fell 2.9% after the
automaker unveiled its electric pickup truck with an angular
body in gunmetal gray that resembled an armored vehicle.