(Reuters) – U.S. stock index futures bounced back on Thursday, from a drop a day earlier on renewed fears of a Sino-U.S. trade war, as oil prices rose and a couple of big deals helped rekindle optimism as the earnings season kicks off.
Broadcom’s shares fell 8.8 percent in premarket trading after the chipmaker’s $18.9 billion deal to buy business software maker CA Inc caught investors and analysts by surprise. CA’s shares jumped 18.6 percent.
Comcast - Bid - Sky - Offer - Rupert
Comcast made a $34 billion bid for Sky , trumping an offer from Rupert Murdoch’s 21st Century Fox 16 hours earlier and setting up a transatlantic battle for the European pay-TV group.
Markets were rattled on Wednesday after the United States threatened to impose tariffs on an additional $200 billion worth of Chinese goods. China said Thursday the two countries have not been in touch about restarting negotiations and while it does not want a trade war, it would fight if necessary.
Markets - Escalation - Trade - Impact - Circumstances
“While markets have typically reacted negatively to any escalation on trade, the overall impact has been relatively modest under the circumstances, which suggests investors are far from panic mode right now,” Craig Erlam, senior market analyst at online forex broker Oanda, said in a note.
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