U.S. stock futures point to a higher open after China said it’s considering talks with the U.S. over tariffs.
“The U.S. has recently sent messages to China through relevant parties, hoping to start talks with China,” China’s Commerce Ministry said in a Friday statement. “China is currently evaluating this.”
The comments signal a possible thawing in U.S.-China relations after President Donald Trump hiked tariffs as high as 145% and Beijing retaliated. Over the past week, Trump has insisted the U.S. has been in talks with China about tariffs, but China vehemently denied that. China had vowed earlier to “fight to the end” against Trump’s steep tariffs.
At 6:15 a.m. ET, blue-chip Dow futures rose 0.54%, broad S&P 500 futures added 0.47% and tech-heavy Nasdaq futures gained 0.30%.
The monthly jobs report is due Friday before the open. Economists on average predict the U.S. economy added 135,000 jobs in April, down from 228,000 in March, according to FactSet. The unemployment rate is forecast to remain unchanged at 4.2%
Corporate news
China’s suggestion that it might be open to tariff talks with the U.S. overshadowed a slew of corporate earnings after the bell that included ecommerce giant Amazon and iPhone maker Apple.
Amazon’s results in the first three months of the year topped Street estimates, but its current quarter outlook was just shy of forecasts. It pointed to tariffs and trade policies that could cause consumers to cut spending.
Apple’s fiscal second-quarter results beat Wall Street forecasts, but the company’s services division came in light. It said it expects to add $900 million in costs in the current quarter due to tariffs.
Other companies that also reported after the bell include:
Reddit said earnings and revenues in the first three months of the year that topped analysts’ estimates and offered surprisingly strong sales guidance for the current quarter.
Airbnb’s first-quarter results met forecasts but the vacation home rental platform sees the next quarter’s sales below Street views. It noted “softness” in travel from Canada to the U.S. toward the end of the quarter.
Duolingo raised its full-year sales and profit outlook above Street forecasts as artificial intelligence offerings are driving users to its higher-priced subscriptions.
Instacart lifted its full-year outlook after the grocery delivery company posted its strongest order growth since 2022 and topped earnings expectations in the first three months of the year.
Digital payments company Block posted first-quarter results below analysts’ estimates and lowered its full-year profit guidance due to a more challenging macroeconomic environment.