Stock futures point to rebound for Friday session

The Stock Swoosh’s Melissa Armo and Payden & Rygel chief economist Jeffrey Cleveland on the market selloff and the Federal Reserve’s rate hikes.

Investors may take a day off from what has been a turbulent week on Wall Street.

Equity futures are pointing to a rebound and a positive open to trading on Friday morning.

Dow Jones futures were rising by 1.2 percent, for more than a 200 point gain.  The S&P 500 added 1.3 percent and the Nasdaq Composite was up 1.8 percent.

Factors playing into the rebound include reports that President Trump and his Chinese counterpart Xi Jinping may meet at the Group of 20 summit in Argentina in late November. The aim would be to find a way out of the impasse over trade that has led both countries to impose penalty tariffs on billions of dollars of each other’s exports.

However, China reported on Friday an unexpected acceleration in export growth in September and a record trade surplus with the U.S., which could exacerbate an already-heated dispute.

There have also been reports that the U.S. Treasury Department will not call China a currency manipulator in its upcoming semiannual report.

In Asian markets on Friday, Japan’s Nikkei average ended the day gaining 0.5 percent, but for the week fell 4.6 percent.

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