May 20, 2018 / 10:15 PM / a year ago

U.S. stocks futures open higher with possible China trade war on hold

May 20 (Reuters) - U.S. stock future opened higher on Sunday after Treasury Secretary Steven Mnuchin said on Sunday that the United States and China agreed to drop their tariff threats to work on a wider trade agreement.

The S&P 500 E-mini futures opened about 0.8 percent higher, the Nasdaq 100 e-minis opened nearly 1 percent higher with Dow e-minis also up 0.9 percent.

Mnuchin and U.S. President Donald Trump's top economic adviser, Larry Kudlow, said an agreement reached by Chinese and U.S. negotiators on Saturday set up a framework for addressing future trade imbalances, effectively putting any trade war between the world's largest economies on hold.

Reporting by Bill Berkrot; Editing by Sandra Maler

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