Breaking News
0

US STOCKS-Wall St set to open slightly lower with focus on trade talks

Stock MarketsFeb 20, 2019 19:20
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. US STOCKS-Wall St set to open slightly lower with focus on trade talks

(For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in a news window.)

* U.S.-China trade talks continue in Washington

* CVS falls on weak profit forecast

* Southwest Airlines (NYSE:LUV) drops on cutting rev outlook

* Investors eye FOMC minutes at 2 pm ET

* Futures off: Dow 0.14 pct, S&P 0.10 pct, Nasdaq 0.02 pct

(Updates prices, adds details)

By Shreyashi Sanyal

Feb 20 (Reuters) - U.S. stock index futures were slightly lower on Wednesday after a handful of downbeat earnings reports, while investors weighed the latest developments in trade talks between the United States and China.

President Donald Trump said on Tuesday that trade discussions with China were going well and suggested he was open to extending the deadline to complete negotiations, saying March 1 was not a "magical" date. to now, it was assumed U.S. tariffs on $200 billion worth of Chinese imports would rise to 25 percent from 10 percent if no trade deal was reached by then.

"A market-friendly outcome this week will be for both sides to agree on extending the March 1 deadline, which should provide more time for finding a middle ground on trade policy," FXTM analyst Lukman Otunuga wrote in a client note.

"Trump stating that the talks are 'very complex' and the current March deadline is not a 'magical date', a breakthrough deal is still some distance away."

The benchmark S&P 500 index .SPX has climbed 18 percent from its December lows, fueled by optimism on trade, a largely upbeat fourth-quarter earnings season and a dovish Federal Reserve.

Investors will be looking for more clues on monetary policy, as the Federal Open Market Committee (FOMC) is slated to release minutes from its January meeting at 2 pm ET (1900 GMT).

The minutes are expected to reaffirm the Federal Reserve's statement last month that it would be "patient" with further rate hikes after markets swooned late in December on fears of an economic slowdown.

"Investors expect more details regarding the shrinking of the Fed's balance sheet and obviously more clues on the Fed pause," said Peter Cardillo, chief market economist at Spartan Capital Securities in a client note.

At 8:19 a.m. ET, Dow e-minis 1YMc1 were down 35 points, or 0.14 percent. S&P 500 e-minis ESc1 were down 2.75 points, or 0.1 percent and Nasdaq 100 e-minis NQc1 were down 1.25 points, or 0.02 percent.

CVS Health Corp (NYSE:CVS) CVS.N fell 7.6 percent after the drugstore chain operator missed full-year profit forecast due to weakness in its long-term healthcare services business. Airlines Co LUV.N slipped 4.3 percent after the carrier cut its forecast for first-quarter revenue per seat mile on weak passenger demand and a $60 million hit from the partial U.S. government shutdown. of Delta Air Lines Inc (NYSE:DAL) DAL.N dropped 1.2 percent and American Airlines Group AAL.O 1.4 percent.

LendingClub Corp LC.N shares tumbled 8 percent after the online lender forecast a bigger-than-expected quarterly loss on seasonal weakness and economic uncertainty in the United States and overseas. Ltd GRMN.O climbed 6.1 percent after forecasting full-year results above expectations and reporting strong quarterly earnings on higher demand for its smartwatches and navigation systems.

US STOCKS-Wall St set to open slightly lower with focus on trade talks
 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email