Jul 30, 2019

Before The Bell | Dow futures fall 100 points after Trump attack on China dampens hope of a trade deal

Fred Imbert, Silvia Amaro

U.S. stock index futures fell on Tuesday after President Donald Trump renewed his attacks on China, decreasing hope the two largest world economies will reach a trade deal.
At around 7:43 a.m. ET, Dow Jones Industrial Average futures fell by 100 points, pointing to a loss of around 90 points at the open. S&P 500 and Nasdaq 100 futures also slid.
Traders are focused on the upcoming Fed meeting, which starts Tuesday. Market expectations point to a quarter-point rate cut on Wednesday, which would be the first rate cut in a decade.
On the data front, there will be personal and consumer spending figures out at 08:30 a.m. ET; as well as pending home sales and consumer confidence numbers due at 10:00 a.m. ET.
In corporate news, Mastercard and Under Armour are reporting before the bell. Apple and Mondelez will be updating investors after the bell.
Wall Street ended on a mixed note Monday as investors monitored a new round of trade talks between the U.S. and China and weighed the upcoming Fed decision.

Source: CNBC

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