Dow Set for a Higher Open as Markets Look to End Miserable Year on a High Note

6:40 a.m. The Dow Jones Industrial Average looks set for a higher open this morning after U.S. President Donald Trump tweeted that he and Chinese President Xi Jinping had made ” big progress ” in a phone call about trade.

S&P 500 futures have risen 0.9%, while Dow futures have gained 216 points, or 0.9%. Nasdaq Composite futures have climbed 1%.

A deal can’t come soon enough. China’s official manufacturing purchasing managers’ index came in at 49.4, below forecasts for 49.9 and under the 50 level that signals an economic expansion. The U.S. will get its own PMI on Thursday, and then December’s payrolls data on Friday. Both could help show how much the trade war is impacting the U.S.

Even with a gain today, the Dow Jones Industrial Average, off 6.7% in 2018, would be facing its worst year since 2008.

Write to Ben Levisohn at

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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