Global equities rose on Friday as signals of potential trade negotiations between the United States and China bolstered risk sentiment after disappointing earnings from tech titans Apple and Amazon raised concerns about the implications of a global trade war.
U.S. stock futures reversed early losses after Apple reduced its share buyback plans and warned that tariffs could cost around $900 million this quarter.
S&P 500 futures jumped 0.8%, while Nasdaq futures rose 0.6%.
European stock markets were set for a solid start, with Eurostoxx 50 futures rising 1.3%.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose to its highest level since March 25, recouping all of its losses since U.S. President Donald Trump kicked off a trade war with his tariffs in early April.
Japan’s Nikkei gained over 1% and Taiwan stocks surged 2.4%. Hong Kong’s Hang Seng surged 1.6%, while mainland China markets were closed for a long holiday.
