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Stocks - U.S. Futures Pause on Reports of Tariff Roll-Back Uncertainty

Stock MarketsNov 08, 2019 06:47AM ET
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Investing.com - U.S. futures were flat on Friday after a record close during the prior trading session, as reports suggested that the White House’s plan to roll back tariffs on China isn’t as certain as originally thought.

Chinese officials said on Thursday that both sides had agreed to reduce tariffs, which the U.S. confirmed later in the day. But a divide remains in the White House over whether or not a tariff rollback is even a good idea, Reuters reported.

Meanwhile, outgoing European Commission President Jean-Claude Juncker said he didn't expect the U.S. to impose import tariffs on cars from the EU. The White House has until Nov. 13 to decide whether it will proceed with the threat it made back in the summer.

Nasdaq 100 were down 7 points or 0.1% by 6:44 AM ET (10:44 GMT), while Dow futures was flat at 27,667 points and S&P 500 Futures remained at 3,085.10 points.

Gap (NYSE:GPS) slumped 9.8% in premarket trade after news that its CEO Art Peck is leaving. The company also issued guidance for the full year late on Thursday that was 15% below consensus forecasts.

Elsewhere, Planet Fitness (NYSE:PLNT) rose 8.6% after it raised its outlook for the year, while Dropbox (NASDAQ:DBX) was up 2.5% after its earnings came in better than expected.

On the data front, consumer sentiment numbers and wholesale trade data is released at 10:00 AM ET.

In commodities, gold futures fell 0.2% to $1,463.95 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.2% to three-week high of 98.150. Crude oil futures declined 1.7% to $56.16 a barrel.

Stocks - U.S. Futures Pause on Reports of Tariff Roll-Back Uncertainty
 

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Comments (5)
Bob Blahblah
Bob Blahblah Nov 11, 2019 2:13AM ET
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useless shill drivel
Steven Chen
Gamer_LG Nov 08, 2019 8:37AM ET
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US has lost the trade war, move on, nothing to see anymore. equity market will move higher after all is settled but the world will see the US differently here on out.
DONGHUN LEE
DONGHUN LEE Nov 08, 2019 8:27AM ET
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China is in a festive mood. They are mocking President Trump and the U.S. They believe that further sanctions will be difficult if the first round of negotiations is completed, and that further negotiations should not be carried out if existing sanctions are eased a little. Have you ever done business with a Chinese person? You're being played out.
Timothy Yap
Timothy Yap Nov 08, 2019 8:27AM ET
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Korean Lee bashing Chinese again!!!
Chronicles of Rush
Chronicles of Rush Nov 08, 2019 8:24AM ET
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I buy my tools at Lowes too and if anything they're cheaper. You must live in California or be getting swindled or both man. Cheers
Ron Warren
Ron Warren Nov 08, 2019 7:33AM ET
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This trade nonsense is infuriating! I'm a contractor. All the Chinese tools and equipment at Lowe's are costing me 40 to 60 % more than 6 months ago. I guess Lowe's didn't get the memo on 1.6% inflation. Anyhow, we the consumers get bent over with higher prices that will never go away, now hear, "Oh Well, Let's eliminate the tariffs. I voted for him, but Trump's an idiot who's sucessfully breaking his own economy!
 
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