U.S. stock index futures pointed to a third day of gains Friday as investors hoped China and the U.S. would finalize a so-called phase one trade agreement. Gains were kept in check as doubts remained about the deal’s details.
As part of the deal, the U.S. would scrap additional levies set to take effect on Sunday. The U.S. also proposed cutting tariffs on $360 billion in Chinese goods by up to 50%. Official Chinese state media has yet to comment on the news.