After substantial progress was made in high-level US-China trade talks, US stock index futures surged on the evening of May 11 local time.

According to CNBC and Reuters, as of 7:44 PM Eastern Time on May 11, Dow futures rose by 439 points, a gain of 1.06%. S&P 500 futures and Nasdaq futures increased by 1.29% and 1.68% respectively.

The reports indicate that the rise in US stock index futures suggests investors are relieved that the worst-case scenario for the US-China trade war might be avoided.

US Treasury Secretary Besent, without providing specific details, mentioned that the trade talks with Chinese officials in Geneva, Switzerland, were “productive” and yielded “significant” results.

Besent said the details would be disclosed in a press briefing on May 12 local time.

According to CCTV News, He Lifeng, the Chinese leader of the US-China trade talks and Vice Premier of the State Council, stated at a press conference held by the Chinese delegation that the high-level US-China trade talks were frank, in-depth, and constructive, achieving significant consensus and substantial progress. Both sides agreed to establish a US-China trade consultation mechanism. Relevant details will be finalized promptly, and a joint statement will be released at the press conference on May 12.

Dan Ives, Head of Global Tech Research at Wedbush Securities, mentioned in a report to clients, “This is a major positive step in the right direction for the market.”

Editor: Zhongxiaowen