Markets are starting off another day in the red ... Here's what's going on
Stock futures fell on Thursday, tracking losses for Asian equities, as trade tensions ramped up after U.S. President Donald Trump threatened tariff retaliation on China, which he claims “broke the deal”.
The week so far has seen all three major indexes drop by at least 2%. And Tuesday marked a particularly tough session for stocks, with the Dow suffering its biggest percentage drop since Jan. 3, while both the Nasdaq and the S&P 500 have posted three-straight losing sessions.What’s driving the market? With investors already on edge over trade talks, due to begin in Washington on Thursday, comments from Trump at a rally in Florida on Wednesday evening appeared to rattle them anew.
The rift has come amid accusations by the U.S. that China has been trying to back out of already agreed measures, prompting Trump to slap higher tariffs on the country. China has taken a tougher stance on negotiations because officials believed the U.S. was ready to compromise, based on recent actions and comments by Trump, The Wall Street Journal reported.Read: ‘China has chosen to retreat’—the U.S.
The Chinese delegation is at the airport and will take off soon. Some ask why bother to go to the US for talks given what had happened?This is also a question for the US side, why still bother to invite the Chinese delegation? I want to emphasize 'invitation'. Roku Inc. ROKU, +18.48% stock rallied before the start of trade Thursday, following a Wednesday-evening earnings report that showed the streaming platform company beating earnings expectations for the first quarter, while it forecast second-quarter revenue that also beat estimates. Shares rose 9.8% in off-hours trade.
As for data, weekly jobless claims, the March trade deficit and producer prices for April are all due at 8:30 a.m. Eastern. Wholesale inventories for March are due at 10 a.m. Eastern.
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