A lot of things have been happening today in the global trading environment.
Stock futures jumped higher this morning, as optimism of a possible U.S.-China trade deal buoyed global markets. Futures for the Dow Jones and S&P 500 rallied 1% above fair value. Nasdaq futures jumped 1.1%. The British pound soared on signs of progress in Brexit deal. Oil prices surged after explosions damaged an Iranian oil tanker off Saudi Arabia.
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Both US stock futures and Asian shares have rallied today amid growing hopes that the US and China can negotiate a trade truce.
Leading both the Nasdaq 100 and the S&P 500, industrial supplier Fastenal rose 9.4% higher after announcing its Q3 earnings report.
Software developers have also made some big moves. Ebix spiked almost 7%, while Workday jumped 3% and Twilio climbed 2% higher. Industry’s giant SAP grew almost 9% higher after reporting strong third-quarter results. Roku managed to skyrocket almost 7% on an upgrade from RBC Capital.
Optimism toward the U.S.-China developments saw stocks in Hong Kong soaring, with the Hang Seng Index climbing up 2.3%. The Shanghai Composite rallied 0.9%.
Growing hopes that Britain is moving closer to a smooth exit from the EU have also pushed the British pound higher for a second day on Friday and lifted UK-based Lloyds Banking Group, which gained 10%, and Royal Bank of Scotland, which skyrocketed 12%.
Additionally oil prices jumped from recent lows after reports about an Iranian oil tanker explosion in the Red Sea near Saudi Arabia were published. The event immediately fanned fears of an escalation in conflict between Iran and Saudi Arabia. Following the news, international benchmark Brent crude futures gained 1.98% to $60.27 per barrel, while US crude futures also advanced 1.85% to $54.54 per barrel.