Stocks - U.S. Futures  Flat as China Pressures U.S. Farmers

Stocks - U.S. Futures  Flat as China Pressures U.S. Farmers

Investing.com  | Sep 11, 2019 21:08

Stocks - U.S. Futures  Flat as China Pressures U.S. Farmers

Investing.com - U.S. futures were mostly flat on Wednesday as China disappointed hopes of major exemptions from tariffs for U.S. agricultural exporters and President Donald Trump renewed his attack on the Federal Reserve.

China published a list of products that will be exempt from 25% tariffs introduced last year, but did not include soybeans, pork or corn. Products exempted included cancer drugs and lubricant base oil. Tariffs on agricultural imports are among the most contentious issues in the trade dispute between Washington and Beijing, as China is one of the biggest consumers of American soybeans.

President Trump tweeted that the exemptions were evidence that China is "being hit very hard" by the tariffs he has imposed, but drew more attention with a fresh attack on "boneheads" at the Fed, who he said should cut U.S. interest rates to "ZERO, or less".

Nasdaq 100 futures were flat at 7,817.38 by 6:42 AM ET (10:42 GMT), while Dow futures gained 44 points or 0.2% and S&P 500 futures were up 2 points or 0.1%.

GameStop (NYSE:GME) slumped 15.9% in premarket trade after its second-quarter sales fell short of expectations and the company lowered its comparable sales forecasts. Dave & Buster’s Entertainment (NASDAQ:PLAY) declined 15.4% after the entertainment company lowered its outlook due to competition in the sector.

Elsewhere, Apple (NASDAQ:AAPL) inched up 0.1% on the back of its announcement of lower-priced iPhone models and $5 a month streaming service. Netflix (NASDAQ:NFLX), whose dominance Apple is hoping to challenge, fell 1.0% on the prospect of Apple undercutting it, while Walt Disney (NYSE:DIS), another streaming rival, was unchanged after losing 2.2% on Tuesday.

AT&T (NYSE:T) gained 1.3% still supported by news of activist investor Elliott Management taking a stake in the company.

Kraft Heinz (NASDAQ:KHC), which said Tuesday it was investing in an "animal-free cheese" maker, was up 0.7%.

In commodities, crude oil rose 1% to $57.97 a barrel. Gold futures were flat at $1,499.65 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.2% to 98.520.

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Discussion
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (UK) English (India) English (Canada) English (South Africa) English (Philippines) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 中文 香港 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
NoYes
CancelYes
Saving Changes

+