THURSDAY – U.S. stock index futures erased earlier losses on Thursday after the European Central Bank announced a new round of stimulus to help banks in the region.
At 8:10 a.m. ET, Dow Jones Industrial Average futures were up 23 points after slipping nearly 100 points. S&P 500 and Nasdaq 100 futures were also up slightly.
The ECB said its new targeted longer-term refinancing operations (TLTRO-III) stimulus program will start in September and run through March 2021. TLTROs are loans provided by the ECB to European banks at a low rate, making it easier for them to lend money to consumers, which in turn can help stimulate the economy. This is the third stimulus injection from the ECB since 2014.
Wall Street ended Wednesday’s session lower, posting its third consecutive decline. Investors are eager to know details from trade negotiations between the U.S. and China.
As trade talks between the world’s largest economies continue, there’s fresh tensions regarding Huawei. The Chinese firm filled a lawsuit against the U.S. government, claiming the law which bans it from selling equipment to government agencies is unconstitutional.