Stock index futures traded lower Friday morning as trade tensions between the U.S. and China continue to dominate investor sentiment.
At 6:50 a.m. ET, Dow futures pointed to a lower open of more than 110 points. Futures for the S&P and Nasdaq also traded lower.
Market focus is largely attuned to an escalating trade war between the U.S. and China, after President Donald Trump’s bid to block Huawei from buying American technology ratcheted up trade tensions. China’s ruling party’s newspaper struck a defiant tone Friday, insisting the trade war will only make China stronger.
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While major U.S. indexes gained Thursday, largely driven by strong earnings from Walmart and Cisco Systems, shares of American chipmakers fell on the trade news.
On the data front Friday, consumer sentiment numbers are due at 10 a.m. ET. Meanwhile, Deere is set to report its earnings before the bell.
A number of Fed speeches are also scheduled for Friday. At 10 a.m. ET, Federal Reserve Vice Chair Richard Clarida will be speaking on the Fed’s review of its monetary policy strategy, followed by New York Fed President John Williams’ speech in New York at 11:15 a.m. ET, and Dallas Fed President Robert Kaplan’s speech at 1:10 p.m. ET.
Source: cnbc.com | Original Link