US stock markets set for a lower open as trade optimism fades - CNBC

U.S. stock index futures were lower Friday morning as investors continued to monitor U.S.-China trade relations and movements in the bond markets.

At around 02:30 a.m. ET, Dow futures fell 89 points, indicating a negative open of more than 69 points. Futures on the S&P and Nasdaq were also slightly lower.

Wall Street ended Thursday on a more positive note, erasing most of the steep losses seen earlier in the week. Overnight, Bloomberg reported that the U.S. is holding off on giving permission to U.S. companies to use Huawei products, citing people familiar with the matter. This comes after China decided to stop buying American crops and after the U.S. officially declared China a currency manipulator earlier this week.

Traders are also keeping a close eye on the bond market, where the recent appetite for U.S. debt has pushed a bond market recession indicator close to a warning zone. If investors trigger a recession warning in the bond market that tends to be negative for stocks.

In Europe, bank stocks led markets lower Friday morning as Italian lenders tumbled on political uncertainty in the country. Italy's coalition government imploded on Thursday evening, as deputy prime minister and leader of Italy's ruling Lega party, Matteo Salvini, declared the arrangement unworkable and called for fresh general elections.

On the data front, there will be new PPI (producer price index) and core PPI numbers out at 08:30 a.m. ET. In corporate news, Novo Nordisk, WPP and Tribune Media are reporting Friday.

Let's block ads! (Why?)

https://www.cnbc.com/2019/08/09/stock-market-china-us-trade-relations-in-focus-once-again.html

2019-08-09 07:06:10Z
CAIiECFNQU-ZHA_0HH32aaUhB28qGQgEKhAIACoHCAow2Nb3CjDivdcCMJ_d7gU

Bagikan Berita Ini