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US pre-open: Futures point to small losses as trade remains in focus

By Iain Gilbert

Date: Monday 09 Dec 2019

US pre-open: Futures point to small losses as trade remains in focus

(Sharecast News) - US futures had stocks opening slightly lower on Monday, as investors await updates on US-China trade.
As of 1230 GMT, Dow, S&P 500 and Nasdaq-100 futures all had their respective indices opening 0.09% lower.

The Dow Jones Industrial Average had closed 337.27 points higher on Friday, following the release of a key monthly jobs report that easily topped expectations on the Street.

As far as the early part of the week was concerned, market participants will be keeping a keen eye on developments in Washington's protracted trade war with China - with just six days to go until the Trump administration is set to slap Beijing with another $156bn-worth of tariffs.

Larry Kudlow, director of the White House's National Economic Council, said on Friday that both sides were "close" to a deal, but also cautioned that Donald Trump was more than prepared to "walk away" if certain conditions could not be met.

XTB market analyst David Cheetham said: "Even though the Sunday deadline occurs when most markets will be closed, there will likely be several hints towards the likely outcome before then and this will probably be the main driver of risk appetite for the coming week."

Later in the week, monetary policy decisions from the Federal Reserve and European Central Bank will be highlights, as will the upcoming UK general election on Thursday.

In corporate news, Toll Brothers and Vail Resorts will report earnings on Monday.

There were no major economic data points scheduled for release.

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