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Aug 22, 2018

Before the Bell: US futures pull back as trade talks with China begin: I CNBC


Alexandra Gibbs


U.S. stock index futures fell into the red ahead of Wednesday's open.
Around 5:35 a.m. ET, Dow futures slipped 55 points, indicating a negative open of -66.29 points, with the S&P 500 and Nasdaq futures also pointing to a downbeat start to the day.
Michael Nagle | Bloomberg | Getty Images
Markets around the world pointed in different directions Wednesday, as investors awaited news from trade talks between the U.S. and China. A nine-member delegation from Beijing is set to commence discussions with U.S. officials in Washington today, with the hope of finding ways to relieve friction between the two nations.
If the meeting goes well, this could lead to a future meeting between presidents Donald Trump and Xi Jinping. Trump, however, isn't expecting much progress from the talks, he said in an interview with Reuters.
The meeting comes as fresh tariffs from the U.S. on $16 billion of Chinese goods are due to come into effect this week, with Beijing having imposed the same amount in retaliatory levies on the States.
The minutes from the latest Federal Open Market Committee (FOMC) meeting, which took place at the turn of the month, will be published at 2 p.m. ET.
From Thursday to Saturday, leading central bankers will gather in Jackson Hole, Wyoming, to discuss the future of monetary policy and the ever-changing market structure. Fed Chair Jerome Powell is due to speak to attendees on Friday.
Elsewhere, mortgage applications are due out at 7 a.m. ET, followed by existing home sales at 10 a.m. ET.
And Lowe's, Royal Bank of Canada, Target, Momo, L Brands, and Williams-Sonoma are scheduled to publish their latest financial