Investing.com – U.S. futures jumped on Monday, as stocks were boosted by reports that the White House does not plan to block Chinese companies from listing shares on U.S. stock exchanges.
Treasury spokeswoman Monica Crowley told Bloomberg news on Saturday that “the administration is not contemplating blocking Chinese companies from listing shares on U.S. stock exchanges at this time.”
Reports of the U.S. government keeping Chinese companies out of the American stock market caused the to close 0.5% lower on Friday. Other measures that are being considered include putting caps on the weighting of Chinese companies in stock indexes managed by American companies, and limiting U.S. pension funds’ exposure to Chinese firms.
U.S.-China trade talks are set to resume on October 10 in Washington.
gained 35 points or 0.5% by 6:41 AM ET (10:41 GMT), while rose 65 points or 0.2% and S&P 500 futures were up 8 points or 0.3%.
Technology stocks that rely heavily on the Chinese market were higher in premarket trade, with Apple (NASDAQ:) up 0.9% and Advanced Micro Devices (NASDAQ:) surging 1%.
Banking stocks lower, with Wells Fargo (NYSE:) slipping 0.2% and US Bancorp (NYSE:) falling 1%.
On the data front, figures come out at 8:45 AM ET and manufacturing index data will be published at 9:30 AM ET.
In commodities, futures lost 1.1% to $55.31 a barrel. were down 0.8% to $1,493.75 a troy ounce, while the , which measures the greenback against a basket of six major currencies, rose 0.1% to 98.863.
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