Investing.com – U.S. futures were lower on Friday after U.S. President Donald Trump said he does not plan to meet with Chinese President Xi Jinping before the March 1 deadline to sign a trade deal.
Trump said he would not meet with Xi, which dampens hopes of a trade deal and increases the chance of increased tariffs between the two biggest economies in the world.
The S&P 500 futures fell 10 points or 0.38% as of 6:40 AM ET (11:40 GMT) while Dow futures lost 90 points or 0.36% and tech-heavy Nasdaq 100 futures decreased 36 points or 0.53%.
Meanwhile, Wells Fargo (NYSE:WFC) fell 0.15% in premarket trade after a fire-related outage left customers unable to access their accounts online and through its mobile application.
Mattel (NASDAQ:MAT) was among the top gainers early Friday, jumping 14% after the toymaker reported strong Barbie sales in the key holiday quarter. Skechers USA (NYSE:SKX) gained 18% after its fourth-quarter earnings results were better than expected.
Elsewhere, semiconductor company Micron (NASDAQ:MU) fell 2.4%, while Tesla (NASDAQ:TSLA) dipped 0.9% after news that its autopilot for the Model 3 is not approved for markets in Europe.
Earnings season is beginning to wrap up, with results from CVS (NYSE:CVS), Arconic Inc (NYSE:ARNC), Hasbro (NASDAQ:HAS) and others expected.
In commodities, gold futures gained 0.08% $1,315.25 a troy ounce, while crude oil slipped 0.5% to $52.37 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, increased 0.09% to 96.375, not far from a two-week high of 96.477 earlier in the session.