US pre-open: Stocks to rise as Trump softens stance on Syria in another Twitter gem
US futures pointed to a positive open on Wall Street on Thursday following heavy losses in the previous session, after President Trump backtracked on the aggressive stance he took on Syria a day earlier.
At 1215 BST, Dow Jones Industrial Average and S&P 500 futures were up 0.5%, while Nasdaq futures were 0.6% firmer.
Following on from his very provocative tweet a day earlier, in which he told Russia to "get ready" for missiles coming at Syria, Trump tweeted on Thursday: "Never said when an attack on Syria would take place. Could be very soon or not so soon at all! In any event, the United States, under my administration, has done a great job of ridding the region of ISIS. Where is our 'Thank you America'?"
Spreadex analyst Connor Campbell said: "This apparent de-escalation - however, temporary; the tone of Trump’s twitter is often a coin toss - has allowed the markets to shake off their initial reticence."
He pointed out that the Dow is looking at a 100-point climb after the bell, a move that would send the index back towards 24,300, keeping it at the top end of its recent trading bracket.
"There’s nothing this afternoon to draw attention data-wise, so investors’ attentions may well linger on their twitter feeds," Campbell said.
On the corporate front, Bed Bath & Beyond tumbled in pre-market trade on the back of a bleak outlook.
BlackRock was set for a positive session as it posted a 28% year-on-year jump in first-quarter earnings, while Delta Airlines advanced after it first-quarter profit and sales beat expectations.
Elsewhere, Rite Aid was also in the back after the drug store chain's fourth-quarter results impressed, while housebuilder Lennar Corp was likely to be in focus as it said chief executive officer Stuart Muller will become executive chairman and be replaced by current president Rick Beckwitt.
On the macroeconomic calendar, initial jobless claims are at 1330 BST, along with the export and import price indices.