The Dow and the broader US stock market are set to start the fourth quarter off higher. The market is treating no trade news as good news.
American and Chinese officials are expected to meet in for the next round of trade talks in the first half of October.
Stocks are on track to add to Monday’s gains, and futures are pointing at a modestly higher open. Dow futures are up some 85 points, or 0.3%. S&P 500 and Nasdaq Composite futures are up 0.3% and 0.4%.
Both the Dow and the S&P were 1.6% from their all-time closing high at Monday’s close.
In economic data, investors are watching the ISM manufacturing index for September, which is expected at 50.1, according to the Refinitv consensus forecast.
A level above 50 marks growth. In August, the sector shrank for the first time in three years, as manufacturing feels the pain of the trade war and slowing global demand.
Elsewhere, gold prices are near a two-month low. The odds of another rate cut this year have fallen, causing the dollar to strengthen and gold to lose value.
Gold fell below a key price level of $1,480 and could now face further losses, according to Craig Erlam, senior market analyst at Oanda.
Gold prices were down 0.2% at $1,462.20 an ounce.
