May 14 (Reuters) - U.S. stock index futures indicated gains at the open on Tuesday, as optimistic comments from Washington and Beijing took the edge off market concerns about a further escalation in trade war.
The Dow Jones Industrial Average rose 207.06 points, or 0.82 per cent, to 25,532.05, the S&P 500 gained 22.54 points, or 0.80 per cent, to 2,834.41, and the Nasdaq Composite added 87.47 points, or 1.14 per cent, to 7,734.49.
The Dow and S&P 500 suffered their worst days since early January, and the Nasdaq Composite had its biggest single-day loss of the year.
The day's rally was almost a mirror image of Monday - when the Standard & Poor's 500 index had its worst day since early January - just not as severe: Technology companies led the way higher Tuesday after bearing the brunt of the selling on Monday, Treasury yields rose modestly and gold gave back a bit of its Monday gains. The Stoxx 600 index fell 1.1% while the German Dax dipped 1.3%. Visit MarketWatch.com for more information on this news. Trump's claim that his tariffs have boosted USA growth is based in part on what economists say was a transitory drop in imports related to the stockpiling by U.S. companies at the end of a year ago of goods facing possible higher tariffs. At its lows, the Dow plummeted by as much as 719 points while the S&P 500 and NASDAQ traded lower 2.8 percent and 3.6 percent, respectively, at session lows. In the meantime, it appears both sides are far from a deal. European indexes were mostly down a bit more than 1%.
But Asian stocks fell on Monday as traders followed Wall Street's example and braced themselves for a prolonged trade war. In company news, shares of Ralph Lauren Corp. fell 1.1% even after the clothing retailer's earnings and revenues beat Wall Street expectations.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Cisco Systems also gained 1.4% after an analyst at Bank of America touted it as the tech stock to buy amid rising U.S. Shares in Webster (ASX:WBA) closed 0.7 per cent lower at $1.52.
After Trump Invite, Iran Commander Says
The Trump administration provided a direct line that the Iranians could call when they're ready to talk, CNN reported . Washington has reimposed strangling sanctions on the Iranian economy since then.
Donald Trump returned to Twitter over the weekend calling on the USA to produce products domestically, leading many people to anticipate further hostility. The yield on the 10-year Treasury rose to 2.41% from 2.40%. Trump also said the U.S.is in a "great position", noting that "our economy has been very powerful; theirs has not been".
North American markets rallied Tuesday after enduring a deep hit to start the week due to the escalating U.S.
In response to this, Trump said that all goods imported from China will likely be added tariffs on.
Light crude is US$0.32 up at US$61.53 a barrel. Brent crude, the global standard, picked up 29 cents to $70.52 per barrel. Heating oil lost 0.6% to $2.04 per gallon. The business has hired about 100 new sales staff to liaise with customers and CCL seen a 2 per cent rise in the year to date, after falling 11 per cent in the year earlier period.
The dollar fell to 109.34 Japanese yen from 109.90 yen on Friday. The euro slipped to $1.1207 from $1.1231.