US equity-index futures climbed after President Donald Trump signaled an openness to a deal with China, improving sentiment after markets were rattled by a sharp escalation in trade tensions.
Contracts for the S&P 500 rose 1.3% and those for the Nasdaq 100 jumped 1.8% as the administration toned down its rhetoric after Trump threatened tariffs of 100% on China in response to Chinese export controls.
Treasury futures slipped and oil gained 1.5%. Silver hit the highest in decades amid a historic short squeeze in London, while gold set a new peak. Contracts indicated a stronger open for European stocks.
Cryptocurrencies stabilized. Declines in Asian shares, which were closed when Trump made his comments Friday, suggest the markets are pricing in the risk that his tariff threats could materialize.
Mainland China stocks fell 1% while Hong Kong had its biggest intraday drop since early April. Japan is closed for a holiday, with no cash trading in Treasuries.
Big downward moves in risky assets have been a rarity of late, which may itself be a factor in the jarring reaction to trade tensions.
