Stocks- U.S. Futures Fall as Trump Likely to Announce New Tariffs

  • Stock Market News
Stocks- U.S. Futures Fall as Trump Likely to Announce New Tariffs
Credit: © Reuters. – U.S. futures pointed to a lower opening bell on Monday amid reports that the White House could announce new tariffs on Chinese goods.

The S&P 500 futures fell 4 points or 0.15% to 2,907.25 as of 6:50 AM ET (10:50 GMT) while Dow futures lost 28 points, or 0.11%, to 26,157.0. Meanwhile tech heavy Nasdaq 100 futures decreased 14 points, or 0.18%, to 7,559.50.

Tariffs on about $200 billion worth of Chinese imports could be announced as early as Monday, Reuters reported. China is likely to decline proposed trade talks with the U.S. later this month if the tariffs are pushed through and will look at retaliation steps.

Investors will also be watching for earnings reports from FedEx (NYSE: FDX ) and Oracle (NYSE: ORCL ), which are expected after the bell.

Pharmaceutical firm Teva Pharma Industries Ltd ADR (NYSE: TEVA ) was among the top gainers in premarket trading, surging 6.21% after the U.S. Food and Drug Administration approved the company's migraine treatment.

Elsewhere, semiconductor Micron Technology Inc (NASDAQ: MU ) slumped 1.96% while Facebook (NASDAQ: FB ) dipped 0.20% and Jd.Com Inc Adr (NASDAQ: JD ) was down 3.28%.

In economic news, the Empire State Manufacturing survey comes out at 8:30 AM ET (12:30 GMT).

In Europe stocks were mostly down. Germany’s DAX fell 52 points or 0.44% while in France the CAC 40 was down 13 points or 0.25% and in London the FTSE 100 decreased 15 points or 0.21%. Meanwhile the pan-European Euro Stoxx 50 lost 5 points or 0.18% while Spain’s IBEX 35 rose 40 points or 0.43%.

In commodities, gold futures were up 0.18% to $1,203.30 a troy ounce while crude oil futures increased 0.70% to $69.25 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, decreased 0.24% to 94.28.

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