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May 22, 2019

US Futures Indication: Dow futures are flat amid ongoing trade anxiety

Sam Meredith



U.S. stock index futures were little changed Wednesday morning, as market participants continue to monitor an intensifying trade war between the world’s two largest economies.
At around 5:35 a.m. ET, Dow futures indicated a positive open of less than 10 points. Futures on the S&P and Nasdaq were both also flat.
Market focus is largely attuned to global trade developments, at a time when negotiations between the U.S. and China have faltered.
President Donald Trump followed through with his threat to increase tariffs on $200 billion in Chinese goods from 10% to 25% earlier this month. China immediately responded by upping the tariffs on $60 billion of U.S. goods to as high as 25%.
The U.S. recently added Chinese telecoms giant Huawei to a trade blacklist, which puts curbs on its ability to do business in America. However, some of those restrictions were eased on Monday.
Relief over Washington’s relaxation of curbs against Huawei appeared to help boost U.S. stocks in the previous session.
In corporate news, Lowe’s, Target, and Canadian Imperial Bank are among some of the companies expected to release their latest quarterly results before the opening bell.
Copart, L Brands, and Synopsys are all set to report their latest figures after market close.
Meanwhile, investors are likely to closely monitor the release of the U.S. central bank’s meeting minutes.
The Federal Reserve is expected to provide insights into the May 1 meeting, when policymakers left interest rates unchanged and signaled little appetite to adjust them any time soon.
On the data front, weekly mortgage applications were expected to be released at 7 a.m. ET.

Source: CNBC

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