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Stocks - U.S. Futures Slip Lower as Trade Tensions Linger

Published 11/19/2018, 06:35 AM
Updated 11/19/2018, 06:35 AM
© Reuters.

© Reuters.

Investing.com - U.S. futures pointed to a slightly lower open on Monday, as investors continued to monitor developments on trade, after President Donald Trump said he may not impose more tariffs on China.

The S&P 500 futures fell 7 points or 0.27% to 2,735.5 as of 6:37 AM ET (11:37 GMT) while Dow futures were down 62 points, or 0.24%, to 25,389.0. Meanwhile tech heavy Nasdaq 100 futures decreased 19 points, or 0.28%, to 6,875.75.

On Friday Trump told reporters that his administration may not impose tariffs on more Chinese goods after China sent a list of measures that it would be prepared to take in order to help resolve a trade dispute between the two nations.

“They sent a list of things that they’re willing to do, which is a large list, and it’s just not acceptable to me yet,” Trump said.

Tariffs on $200 billion worth of Chinese goods are set to increase to 25% from 10% on Jan. 1. Trade tensions have taken center stage as the two countries prepare for a meeting between Trump and Chinese President Xi Jinping at the G20 meeting later this month.

Chesapeake Energy Corp (NYSE:CHK) was among the top gainers in premarket trading, rising 4.75%, while Twilio Inc (NYSE:TWLO) gained 3.81% and Adobe (NASDAQ:ADBE) increased 0.67%. Tesla (NASDAQ:TSLA) inched up 0.15% while Shire PLC ADR (NASDAQ:SHPG) was up 1.13%.

Apple (NASDAQ:AAPL) fell 1.82% after it cut production orders for all three of its latest iPhone models, the Wall Street Journal reported. Semiconductor Micron (NASDAQ:MU) slipped 2.26% while Western Digital (NASDAQ:WDC) decreased 4.38%.

In commodities, gold futures rose 0.16% to $1,222.70 a troy ounce while crude oil futures increased 0.67% to $56.84 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was down 0.11% to 96.23.

Latest comments

what will happen if futures slip means,,, bull or bearish for gold,,, any help me to know
Traditionally, futures slipping tends to be bullish for gold. But as of late, its a coin toss (pun intended). Prob good for gold at this point. Gold seems to be ready to run.
Future slip and hence US Dollars also...indicate positive for gold
Bullish for gold. I’m expecting a US stockmarket correction soon.
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