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Dow Set to Rocket as Trade Optimism Increases

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U.S. stock index futures were higher Tuesday morning as hope around U.S.-China trade talks increased.

Futures for the Dow Jones Industrials hiked 73 points, or 0.3%, early Tuesday to 27,035

Futures for the S&P 500 gained 8.75 points, or 0.3%, at 3,005.75

NASDAQ Composite futures took on 25.5 points, or 0.3%, to 7,876

In corporate news, Autozone, Carmax, and BlackBerry are among some of the companies set to publish their latest earnings before the opening bell.

Nike, Cintas, and Synnex are set to release their latest quarterly results after market close.

Media reports Tuesday had China granting new waivers to several companies exempting them from tariffs on at least two million tons of U.S. soybeans. The report added some companies have already bought about 1.2 million tons of soybeans.

Treasury Secretary Steven Mnuchin also confirmed trade talks between the world's two largest economies would resume next month. In an interview, Mnuchin said negotiators from the U.S. and China had made some progress in last week's deputy-level meetings.

Apple, which has large exposure to the Chinese market, rose 0.9% in the pre-market. Caterpillar gained 1.2%, and Boeing, another trade bellwether, added 0.6%.

On the data front, Philadelphia Fed non-manufacturing figures for September will be released this morning. The S&P/Case-Shiller's home price index for July, consumer confidence data for September and Richmond Fed surveys will all follow slightly later in the session.

Overseas, in Japan, returned from a long weekend to gain 0.1% Tuesday, while in the Hong Kong, the Hang Seng index gained 0.2%

Oil prices dipped 66 cents to $57.98 U.S. a barrel.

Gold prices subtracted $2.90 to $1,528.60 U.S. an ounce.