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Wall Street Futures Rise on Bank Earnings and Rate-Cut Optimism

U.S. stock futures climbed Wednesday as strong bank earnings and renewed hopes for Federal Reserve rate cuts helped ease investor concerns over U.S.-China tensions. The Dow Jones Industrial Average gained over 200 points in premarket trading, while the S&P 500 and Nasdaq 100 also advanced, buoyed by optimism surrounding the start of earnings season. Bank of America reported a 23% jump in profit, joining other major lenders in posting robust results that reassured markets about the financial sector’s resilience. Investors are also betting on potential interest-rate cuts as the Federal Reserve faces mounting pressure to support growth amid trade frictions and a prolonged U.S. government shutdown. The combination of strong corporate performance and policy optimism has lifted sentiment after a volatile session earlier in the week. Global markets mirrored the upbeat tone, with Asian and European equities edging higher, while the dollar weakened and gold prices steadied. Analysts ...
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Trump’s Cooking Oil Threat to China Lands After Trade Already Slumped

        China and U.S. flags are displayed alongside a miniature worker in this illustration picture taken November 7, 2024.

U.S. President Donald Trump has turned his attention to China’s cooking oil trade, warning that Washington could cut off purchases as part of escalating trade tensions. But analysts note the move may have little real impact—because Chinese exports of used cooking oil to the U.S. were already in steep decline.

Used cooking oil, often repurposed for biofuel production, had once been a lucrative export. In 2024, shipments to the U.S. hit a record 1.27 million tons, valued at about $1.2 billion. But after Beijing scrapped tax relief on exports, sales plunged this year. By mid-2025, volumes had dropped to around 387,000 tons, down more than 40% from the previous year.

Trump framed the move as retaliation for China’s decision to halt purchases of U.S. soybeans, a far more valuable commodity worth over $12 billion annually. While the cooking oil dispute adds another flashpoint to the trade war, experts suggest it is largely symbolic compared to the broader agricultural and energy trade between the two nations.


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