US pre-open: Futures point to gains as UK and EU strike last minute Brexit deal
US futures had stocks opening higher on Thursday as markets breathed a sigh of relief after a draft Brexit deal was struck between UK and EU officials.
As of 1230 BST, Dow futures were up 0.35%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.36% and 0.45% higher, respectively.
The Dow closed 22.82 points weaker on Wednesday as investors monitored the Brexit negotiations, digested some lacklustre retail figures and sifted through more earnings from some of the nation's biggest firms.
However, sentiment got a boost after British Prime Minister Boris Johnson revealed that he had "a great new Brexit deal" via Twitter.
Johnson implored MPs to support the deal when it's put before Parliament on Saturday, while European Commission President Jean-Claude Juncker said he felt the deal was "fair and balanced".
While the Northern Irish Democratic Unionist Party vowed to not support the government' Brexit plans "as it stands", markets on both sides of the Atlantic rallied on the news.
Oanda's Craig Elam said: "Anyone hoping that the process will be straightforward now is kidding themselves.
"With Labour whipping for a second referendum on the deal and the Lib Dems unlikely to support anything, there is still a good chance we're heading for an extension and election, in order to get this over the line. Nothing in Brexit is ever simple."
On the data front, initial jobless claims for the week ended 5 October will be posted at 1330 BST, as will figures on building permits and housing starts for September and the Philadelphia Federal Reserve's manufacturing index for October
Industrial production data for September will follow at 1415 BST.
In corporate news, Morgan Stanley, Philip Morris and Union Pacific will all report earnings today.