U.S. Stock Futures Indicate Higher Open; Most European Markets Closed

By Dow Jones Newswires StaffStock futures indicated a higher start for the open, with Dow Industrials up nearly 0.5%, S&P stock futures up 1.0% and Nasdaq futures gaining 1.4%, while most European markets were closed for labour day.Apple and Amazon report after the bell in the wake of Wednesday's strong showing from Meta and Microsoft.Meanwhile, gathering hopes on trade deals boosted the dollar and Treasurys even after Wednesday's GDP and employment data disappointedThe dollar was up at a two-week high amid optimism that the global trade war is easing. The Trump administration earlier this week moved to soften the impact of automotive tariffs. Earlier Thursday, Beijing-backed social media accounts said U.S. officials have reached out to Chinese counterparts through multiple channels to discuss trade. The DXY dollar index hit an overnight high of 100.0260 against a basket of major currencies.Treasurys gained, with the yield on the 10-year down nearly two basis points at 4.158%.In Asia, stock markets in China and Hong Kong were closed. Japanese stocks ended higher after the Bank of Japan stood pat on its policy rate and cut its forecasts for inflation and growth amid trade uncertainty. Australia's S&P/ASX 200 Benchmark Index rose 0.2% to 8145.60, the sixth consecutive session of increases.Most European stock markets were closed for the May Day public holiday. The FTSE 100 lost 0.1% at the open while the more domestically focused FTSE 250 index was trading higher at 0.2%.Oil prices fell again in early European trading, with Brent crude down to $60 a barrel as concerns over weakening demand intensified after the latest data showed the U.S. economy contracted for the first time since 2022.Gold futures were down 2.4% at $3,238.50 a troy ounce on easing trade tensions and falling safe-haven demand.Write to Barcelona Editors at [email protected]