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Aug 24, 2018

Before the Bell I US futures slightly higher as China trade talks end; Powell to speak at Jackson Hole I CNBC.

cnbc.com

Ryan Browne

U.S. stock index futures lifted slightly Friday as talks between the U.S. and China ended without a deal and traders awaited a speech from Federal Reserve Chair Jerome Powell.
Dow futures traded 49 points higher at around 4:20 a.m. ET, indicating a positive open of 65 points, while S&P 500 and Nasdaq futures were both in the black.
European and Asian equities were mixed following an expected lack of progress on trade relations between the U.S. and China. The two world powers concluded talks Thursday with no breakthrough — most market observers did not have high hopes for the meeting after President Donald Trump said he did not "anticipate much" to be resolved on tariffs during the course of the talks.
America and China hit each other's economies with another round of levies Thursday, both targeting $16 billion worth of goods with 25 percent duties. Gains stateside were capped by dampened sentiment on trade risks.
Meanwhile, the Fed's Powell will address attendees of the Jackson Hole Symposium in Wyoming on Friday, where leading central bankers are meeting to discuss the future of monetary policy.
Market watchers will likely tune into any comments the Fed chair makes on risks to the domestic and global economy and the direction of interest rates and other policy measures. Fed minutes released earlier this week showed the U.S. central bank held worries about the effects of protectionism and trade tensions on the economy.
In corporate news, U.S. footwear firm Foot Locker is set to release earnings before the bell while New York-listed Chinese microlender Qudian reports results later in the day.
On the data front, durable goods orders figures are due at 8:30 a.m. ET.