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The major futures indexes suggest a gain of 1.2 percent when trading begins Friday in the U.S.
The two sides agreed to improve the current atmosphere, which has seen increased tensions between the countries over the coronavirus outbreak.
One thing that could influence the direction of trading will be the morning release of the U.S. employment report for April, which is widely expected to show the devastating effect the coronavirus had on the nation’s workforce last month.
The U.S. economy is expected to lose an unprecedented 22 million jobs, with estimates running as high as 35 million, wiping out every job created over the past decade.
Watch for the unemployment rate to skyrocket from 4.4 percent to 16 percent. If so, it would mean that nearly all the job growth in the 11 years since the Great Recession ended had vanished in one month.
In Asian markets, Japan's benchmark Nikkei jumped 2.6 percent, Hong Kong's Hang Seng rose 1 percent and China's Shanghai Composite picked up 0.8 percent.
In Europe, London's FTSE gained 1.4 percent, Germany's DAX added 1 percent and France's CAC is higher by 0.9 percent.
|I:DJI||DOW JONES AVERAGES||33761.05||+424.38||+1.27%|
|I:COMP||NASDAQ COMPOSITE INDEX||13047.185943||+267.27||+2.09%|
In Thursday's session, the S&P 500 climbed 1.2 percent for its third gain in four days.
The Dow Jones Industrial Average gained 0.9 percent and the Nasdaq rose 1.4 percent.
In the U.S., another 3.2 million workers applied for jobless benefits last week, bringing the total to 33.5 million over the last seven weeks. It’s a shocking number, but it’s also the fifth straight week that it has declined since hitting a peak in late March.
Benchmark U.S. crude oil added 61 cents to $24.18 a barrel in electronic trading on the New York Mercantile Exchange. It fell 44 cents, or 1.8%, to $23.55 a barrel Thursday.
Brent crude oil, the international standard, gained 47 cents to $29.93 a barrel.
The Associated Press contributed to this article.