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May 16, 2019

US Futures Indication I Futures lower as US-China trade tensions return

Spriha Srivastava



U.S. stock index futures pointed to a lower start to the trading day after President Donald Trump declared a national emergency over threats against American technology.
At 03:30 a.m., Dow futures were down 56 points, pointing to a lower open of 19 points. Futures on the S&P 500 and Nasdaq indexes were also in the negative territory.
Trade tensions continue to weigh on investor sentiment. On Wednesday, the U.S. Department of Commerce announced the addition of Huawei Technologies and its affiliates to the Bureau of Industry and Security (BIS) Entity List, making it more difficult for the Chinese telecom giant to conduct business with U.S. companies.
Meanwhile, multiple sources told CNBC Wednesday that Trump plans to postpone auto tariffs by up to six months. The White House faces a Saturday deadline to decide whether to slap duties on car and auto part imports over national security concerns.
On the data front, investors will be watching housing starts, weekly jobless figures and a Philadelphia Fed Business Outlook at 08:30 a.m. ET.
Walmart, and Manchester United are set to report their earnings before the bell. Baidu, Applied Materials and Pinterest are set to report after the bell.

Source: CNBC

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