(For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in a news window.)
* Futures up: Dow 0.12%, S&P 0.23%, Nasdaq 0.41%
By Medha Singh
Aug 8 (Reuters) - U.S. stock index futures inched higher on Thursday as better-than-expected Chinese trade data and a steadying of its currency offered some comfort to investors rattled by an escalation in trade tensions and signals pointing to a recession.
The yuan regained some ground even as China's central bank set its official midpoint below the seven to the dollar threshold. Exports from the world's second-largest economy posted a surprise rise, while imports fell less than forecast. CNY/ latest data soothed some nerves after the S&P 500 on Monday posted its steepest percentage fall this year as the yuan slumped to its lowest in a decade.
Signals from the bond market were ominous as well, with a closely watched U.S. recession indicator reaching its highest level since March 2007 on Tuesday.
While the benchmark index has enjoyed a slight relief in the past two days, it still stands about 5% away from its record closing high hit last month.
Nasdaq 100 e-minis NQcv1 were up 31 points, or 0.41%.
Shares of Symantec Corp SYMC.O and Advanced Micro Devices Inc AMD.O bolstered futures for Nasdaq 100 . Symantec jumped 12.3% after sources said chipmaker Broadcom Inc AVGO.O is in advanced talks to buy the cybersecurity company's enterprise business. gained 5% after the chipmaker released the second generation of its processor chip for data centers and said that it had landed Alphabet Inc' GOOGL.O Google and Twitter Inc TWTR.N as customers. Inc LYFT.O advanced 5.4% after the ride hailing service raised its outlook for the year and forecast a faster path to profitability. Uber Technologies Inc UBER.N , due to report quarterly results after the bell, rose 4%.
Shares of Walt Disney (NYSE: DIS ) Co DIS.N rose 1.1% after Credit Suisse (SIX: CSGN ) upgraded its shares to "outperform" on positive investor sentiment as its video streaming service Disney+ closes in on its U.S. launch.
Shares of CenturyLink Inc (NYSE: CTL ) CTL.N fell 5.7% after the telecommunications services provider missed second-quarter revenue estimates.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.