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Wall Street Poised To Open Positive

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There is optimism in the market as U.S.-China trade discussions are going to reach a final agreement on new tariff on consumer products soon.

Initial signs from the U.S. Futures Index suggest that Wall Street might open all positive.

Asian shares closed higher on Friday. European shares are trading positive.

As of 7.55 am ET, the Dow futures were gaining 58.00 points, the S&P 500 futures were adding 6.75 points and the Nasdaq 100 futures were up 25.00 points.

The U.S. major averages Thursday firmly in positive territory. The Dow advanced 220.75 points or 0.8 percent to 28,132.05, the Nasdaq climbed 63.27 points or 0.7 percent to 8,717.32 and the S&P 500 jumped 26.94 points or 0.9 percent to 3,168.57.

On the economic front, the Commerce Department's Retails Sales for November will be issued at 8.30 am ET. The consensus is for an increase of 0.5 percent, while it was up 0.3 percent in the prior month.

The Labor Department's Import and Export Prices for November will be published at 8.30 am ET. The consensus is for an increase of 0.2 percent, while it declined 0.5 percent in the previous month.

The Commerce Department's Business Inventories for October will be released at 10.00 am ET. The consensus is for a growth of 0.2 percent, while it recorded a decline of 0.2 percent in the prior month.

Fed Open Market Committee Vice Chairman John Williams will speak at 11.00 am ET.

Baker-Hughes Rig Count for the week will be released at 1.00 pm ET. In the prior week, the North American Rig Count was 937 and U.S. Rig Count was 799.

Asian stocks posted strong gains on Friday. Chines shares rallied. The benchmark Shanghai Composite index climbed 51.98 points, or 1.78 percent, to 2,967.68 while Hong Kong's Hang Seng index added 2.57 percent to end at 27,687.76.

Japanese shares surged to a 14-month high. The Nikkei average jumped 598.29 points, or 2.55 percent, to 24,023.10, hitting its highest levels since October last year. The broader Topix index finished 1.59 percent higher at 1,739.98.

Australian markets advanced. The benchmark S&P/ASX 200 climbed 30.90 points, or 0.46 percent, to 6,739.70 while the broader All Ordinaries index ended up 33.80 points, or 0.50 percent, at 6,844.60.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 60.18 points or 1.02 percent, the German DAX is gaining 135.71 points or 1.01 percent, the U.K. FTSE 100 Index is progressing 122.48 points or 1.70 percent. The Swiss Market Index is adding 23.05 points or 0.21 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.17 percent.

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