Stocks – U.S. Futures Rise on Strong Holiday Sales, Trump Damps Mood

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Investing.com – U.S. futures rose on Monday as online shopping hit a revenue record for Black Friday and stronger-than-expected manufacturing surveys around the world, but the mood was dampened slightly by U.S. President Donald Trump tweeting that he was re-implementing tariffs on steel from Brazil and Argentina due to the recent drops in their currencies.

Trump added in a separate tweet that “U.S. Markets are up as much as 21% since the announcement of Tariffs on 3/1/2018 – and the U.S. is taking in massive amounts of money…”

rose 6 points or 0.1% by 6:44 AM ET (11:44 GMT), while were up 43 points or 0.2% and gained 3 points or 0.1%.

Online sales hit $7.4 billion on Friday, according to data compiled by Adobe (NASDAQ:) Analytics. That marks a 19.6% increase from last year and the largest Black Friday sales volumes ever. Adobe predicts spending to hit another record of $9.4 billion today thanks to Cyber Monday promotions.

Meanwhile, upbeat manufacturing surveys from China, the euro zone and elsewhere also supported sentiment. China’s private-sector Caixin survey showed activity at a three-year, due to past government stimulus programs.

Retailers were up in premarket trading, with Macy’s (NYSE:) rising 0.9% and Amazon.com (NASDAQ:) inching up 0.3%. Banks also gained, with JPMorgan Chase & Co (NYSE:) rising 0.9%, Morgan Stanley (NYSE:) adding 1.1% and Bank of America (NYSE:) up 1%.

Elsewhere, Roku (NASDAQ:) tumbled 5.8% and Deere & Company (NYSE:) was down 1%.

In commodities, fell 0.6% to $1,464.55 a troy ounce, while the , which measures the greenback against a basket of six major currencies, gained 0.1% to 98.265. jumped 2.1% to $56.33 a barrel.

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