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US Stocks Set To Open Higher On Trade Optimism

U.S. stock futures indicate a positive start on Monday, as risk sentiment remains supported by recent positive developments on the trade front.

The Dow Jones Industrial Average futures were up by 121 points, while the S&P 500 futures gained 14 points and the Nasdaq Composite futures were up by 46 points.

Investor sentiment received a boost from upbeat U.S. jobs data released on Friday and signs of progress in U.S.-China trade talks.

Asian stocks rose broadly and European markets climbed to a near two-year high after China said it had reached a consensus with the U.S. on core trade concerns.

The White House said the two sides have "made progress in a variety of areas and are in the process of resolving outstanding issues."

U.S. Commerce Secretary Wilbur Ross told Bloomberg that licenses would be released "very shortly" for U.S. firms to sell components to Huawei Technologies Co.

Gold prices held steady, thanks to a weaker U.S. currency after manufacturing activity contracted for the third month in a row. Oil prices fell in cautious trade after rallying nearly 4 percent on Friday.

The U.S. economic calendar remains light today, with factory orders data for September due at 10 a.m. ET. Federal Reserve President John Williams is due to speak around 3 p.m. ET.

The new head of the European Central Bank (ECB) Christine Lagarde will be giving her first speech in the role later in the day and markets expect her to take a more assertive approach to economic policy.

In corporate news, Under Armour, Inc. said that earnings per share for fiscal 2019 will likely reach the high end of the previously given range of approximately of $0.33 to $0.34.

The sportswear maker, whose accounting practices are under investigation, said it firmly believes that its accounting practices and disclosures were appropriate.

While reporting financial results for the third quarter, media and marketing solutions company Gannett Co., Inc. trimmed its revenue guidance for the full-year 2019.

McDonald's has announced that it fired CEO Steve Easterbrook after finding he had "demonstrated poor judgment" in a consensual relationship with an employee.

GE Healthcare said that the U.S. Food and Drug Administration approved Clariscan, a macrocyclic, ionic, gadolinium-based, MRI contrast agent, expanding the GE Healthcare portfolio for U.S. patients and radiologists.

Warren Buffett's Berkshire Hathaway posted stronger-than-expected earnings and also boosted its cash holdings, as growth in several business lines offset the drag from trade tensions.

Saudi Arabia's giant state oil company finally kick-started its initial public offering (IPO) on Sunday, giving few specifics on the number of shares to be sold, pricing or the date for a launch.

E-Commerce giant Amazon announced a new initiative, Amazon Small Business Academy, aiming to help small businesses grow sales using internet.

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