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May 8, 2019

US Futures Indications | US futures turn lower amid trade deal standoff

Silvia Amaro

U.S. stock index futures pointed to a slightly negative open on Wednesday, erasing earlier gains as market participants continued to monitor trade relations between the U.S. and China.
At around 5:45 a.m. ET, Dow futures indicating a slightly lower open of about 30 points. Futures on the S&P and Nasdaq were nearly unchanged.
Wall Street ended Tuesday’s session deep in the red on the back of comments from U.S. officials confirming higher tariffs on Chinese goods later this week. President Trump tweeted about the higher tariffs last Sunday, which sparked a global sell-off.
Data released Wednesday morning in China suggested that its trade surplus in April stood at $13.84 billion, well below expectations. However, its trade surplus with the U.S. rose to $21.01 billion in April from $20.5 billion in March.
Investors are also monitoring corporate earnings. Honda Motor, Toyota Motors, The New York Times, and Wendy’s will report their latest results before the bell. Dinery and Fox Corp. will report after the closing bell.
Investors will get another look at the U.S. housing market at 7 a.m. ET, when weekly mortgage claims data are released.

Source: CNBC

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