KONTAN.CO.ID - NEW YORK. U.S. stock indexes were set to open at fresh record highs on Friday as optimism over U.S.-China trade relations and an improving global economy brightened investor sentiment going into the new year. Signaling resilience in the global economy, data showed China's industrial profits grew at the fastest pace in eight months in November. The figures added to a slate of upbeat reports from the Asian country, including on industrial production and retail sales.
"With the trade deal coming into focus, there should be an easing of pressure on the global economy, beginning with China, and that will eliminate the possibilities of a global recession," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Robust U.S. economic data, relatively loose monetary policy and hopes of an imminent trade truce between Beijing and Washington have fueled a Wall Street rally this month. Read Also: Oil kicks off week with gains on fresh hopes for U.S.-China trade talks The S&P 500, which has hit record highs in two of three sessions in a holiday-shortened week, is now about half a percentage point away from logging its best year since 1997.