U.S. Index Futures Hold Steady With Trump Tax Comments

U.S. stocks index futures were little changed, with record stocks as investors assessed the promise of President Donald Trump review of corporate taxes.

Contracts on S&P500 index that expire in March, rose by 0.1% to 2307 at 10:19h in London, while DJIA rose 33 points to 20.169.

US stocks pointed to new highs on Thursday as S&P500 rose by 0.6%.

Traders are assessing Trump’s comments that a “phenomenal” plan to overhaul business taxes may be released in the next “two or three weeks.” Sentiment is also being influenced by better- than-expected economic data from China, where exports rebounded in January at the fastest pace in almost two years.

"U.S. tax cut hopes spilled over to Asia overnight and received a second wind from surprisingly strong Chinese trade data,” Accendo Markets analysts Mike van Dulken and Henry Croft wrote in a note.

With more than half of S&P 500 companies having posted earnings this season, about three-quarters beat profit estimates and roughly half beat sales forecasts, according to data compiled by Bloomberg.

Four members of the S&P 500 are posting quarterly results today, including Aon Plc.

Read more:

• Credit Suisse raises S&P 500 for 2019 to 3025
• DAX several points away form a breakout that can push the price toward 11850
• GE stocks decline. Forecasts are weaker than expectations
• Fed’s decisions could incite the next market crash
• Historically now is the time to invest in energy stocks