U.S. stock index futures rose on Thursday as fears of a full-blown trade war appeared to decrease.
As tensions between the two largest economies in the world slap tariffs on each other's goods, the Chinese commerce ministry said Thursday the country hopes the U.S. will take steps to correct its behavior.
However, the levies imposed by both countries were seen as less than previously feared, helping lift sentiment on Wall Street. The Dow is up more than 1 percent over the past two days. The S&P 500, meanwhile, has risen more than 0.6 percent in that time period.
J.P. Morgan Chase CEO Jamie Dimon also played down the conflict between the U.S. and China, calling it a skirmish and not a trade war.
General Electric shares fell 2 percent after an analyst at J.P. Morgan slashed his price target on the company to $10 from $11. The analyst noted he expects "weaker results at power and some franchise value impact."
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