(CNN) - The Dow could hit a seventh day of gains in a row Thursday, as stock futures are bouncing higher after the United States said it would delay some tariffs on Chinese imports.
Futures are higher across the board. Dow futures are up some 50 points, or 0.2%, and those for the S&P 500 are up 0.2%. Nasdaq Composite futures are up 0.6%.
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If the Dow ends in the green, it will have risen for seven days in a row, its longest winning streak since early May, according to Refinitiv.
The supportive sentiment was sparked by some apparently conciliatory developments on the trade front.
Late Wednesday, President Donald Trump tweeted that "as a gesture of good will" the United States would delay a tariff increase on $250 billion of goods from China that would have taken levies from 25% to 30% from Oct. 1 to Oct. 15.
Earlier Wednesday, China waived import tariffs on some U.S. goods.
In Europe, the European Central Bank cut its deposit rate to -0.5% from -0.4%, and restarted its quantitative easing program with monthly €20 billion purchases starting Nov. 1.
"Overall, markets are disappointed with the ECB's action, but that could be changed if the ECB commits to buying corporate bonds," said Edward Moya, senior market analyst at Oanda.
Market participants will now turn their attention to next week's Federal Reserve meeting, at which a quarter percentage point interest rate cut is expected with an 89% chance, according to the CME's FedWatch tool.
Trump, who has long been critical of the Fed's policy, tweeted that the ECB had acted quickly and was trying and succeeding to depreciate the euro, while the Fed didn't act. On Wednesday, Trump called for rates of "zero, or lower" in a tweet.
The euro briefly bounced higher after the ECB decision before falling into negative territory.
On the economic data front, consumer price inflation for August came in just below expectations at 1.7%, compared with the 1.8% consensus forecast. Core inflation stood at 2.4%, versus 2.3% expected.
The lower headline number will give the Fed more reason to cut rates next week.
Jobless claims for the week ended Sept. 7 came in at 204,000, slightly below expectations.
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