Stock index futures rose Thursday after President Trump said the United States would delay scheduled tariff hikes on billions worth of Chinese imports, cooling tensions that have battered financial markets over the last year.

The decision, which Trump called “a gesture of goodwill,” came after China moved to exempt some US anti-cancer drugs and other goods from additional tariffs ahead of planned trade negotiations between the world’s two largest economies.

The United States will delay increasing tariffs on $250 billion worth of Chinese imports from Oct. 1 to Oct. 15, Trump tweeted.

However, lingering concerns of slowing global growth pushed gold prices higher and lifted shares of miners such as Barrick Gold Corp., AngloGold Ashanti Ltd. and Gold Fields Ltd. between 1.7 percent and 4.1 percent.

Later Thursday, the European Central Bank (ECB) is expected to offer new stimulus measures to help boost the euro zone’s flagging economies.

Analysts said while the US economy is largely insulated from the troubles of Europe, investors might sell out in case the ECB delivered a more hawkish policy decision than expected.