Stock futures edge higher, attempting to snap a three-day losing streak

U.S. stock index futures were slightly higher Friday morning, following three straight days of market losses.

Around 6:40 a.m. ET, Dow futures indicated a positive open of about 30 points. Futures on the S&P and Nasdaq were both seen marginally higher.


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Wall Street closed lower on Thursday amid uncertainty over U.S.-China trade. Chinese President Xi Jinping said Friday that Beijing wants to work for a trade deal with the U.S. but is not afraid to “fight back.” Reinforcing the upbeat tone adopted by China in recent days, Xi told a visiting U.S. business delegation that China holds a ‘positive attitude’ toward the trade talks.

The Wall Street Journal reported Thursday that China had invited the U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to Beijing for further talks. However, it is unclear whether the invitation was accepted. The investment community is unsure whether both countries will sign some sort of trade agreement in the coming weeks. Morgan Stanley said Thursday that a phase one deal is perhaps the furthest both countries will go.


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Data, earnings

On the data front, manufacturing Purchasing Managers’ Index (PMI) and service-sector PMI figures for November will be released at around 9:45 a.m. ET. Consumer sentiment for November and the latest Kansas City Fed Survey will follow slightly later in the session.

Investors are also likely to closely monitor comments from Federal Reserve Bank of New York President John Williams on Friday morning.

In corporate news, the earnings calendar is thin, with only Foot Locker and J.M. Smucker due to report before the bell. WeWork is due to present a five-year strategic plan to its board of directors.

Source: cnbc.com | Original Link

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