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Sep 19, 2018

Before the bell: Wall Street set for a slightly upbeat open, as US-China trade concerns simmer I CNBC


Alexandra Gibbs


U.S. stock index futures eked out minor gains ahead of Wednesday's open, lifted by positive sentiment seen in markets overseas.
Around 5:30 a.m. ET, Dow futures rose 9 points, indicating a positive open of 30.04 points, while futures on the S&P 500 and Nasdaq both indicated a relatively flat open for their respective markets.
A trader on the floor of the New York Stock Exchange the morning after the Dow Jones Industrial Average dropped over 1,000 points on Feb. 9, 2018.  
Spencer Platt | Getty Images News | Getty Images
A trader on the floor of the New York Stock Exchange the morning after the Dow Jones Industrial Average dropped over 1,000 points on Feb. 9, 2018. 
Markets were given a slight boost as stocks in both Asia and Europe posted solid gains during their respective Wednesday sessions. In the previous session, stocks posted sharp gains, with the Dow closing up in the triple digits.
As another trading week hits the midpoint, investors continue to monitor trade rifts going on between the U.S. and China. On Monday, the U.S. administration announced that it would inflict 10 percent tariffs on $200 billion worth of Chinese imports, of which would go onto rise to 25 percent by year-end.
The news sparked retaliation from China on Tuesday, who announced levies targeting over 5,000 American products – worth $60 billion – which would go into effect next week on Sept. 24, according to Reuters.
China's commerce ministry added flame to the fire on Tuesday, announcing that it had filed a complaint to the World Trade Organization against the U.S.' latest round of tariffs, the news agency added.
Meanwhile, at a World Economic Forum conference in Tianjin, Chinese Premier Li Keqiang said that the Asian nation was confronted with "a host of difficulties and challenges" when it came to keeping the economy stable.