Stock-index futures drifted lower Wednesday, a day after the Dow Jones Industrial Average snapped a six-day winning streak, with investors awaiting a reading on May consumer inflation as they continue to eye the U.S.-China trade fight.
Dow futures YMM19, -0.29% fell 71 points, or 0.3%, to 25,993, while S&P 500 futures ESM19, -0.26% lost 7.9 points, or 0.3%, to 2,878.75. Nasdaq-100 futures NQM19, -0.46% were off 35.75 points, or 0.5%, at 7,483.
What’s driving the market?
Stocks ended with small losses Tuesday after flipping between positive and negative territory. The Dow DJIA, -0.05% closed 14.17 points lower at 26,048.51, off 0.1%, while the S&P 500 SPX, -0.03% shed 1.01 points, or less than 0.1%, to close at 2,885.72. The Nasdaq COMP, -0.01% finished with a loss of 0.6 points at 7,822.57. The declines ended five-day winning streaks for both the S&P and the Nasdaq.
U.S. President Donald Trump on Tuesday said he was the one “holding up” a trade deal with China, saying the two countries would “either do a great deal…or we’re not doing a deal at all.”
Analysts blamed the remarks for casting a somewhat negative tone over global equities.
Investors are also watching protests in Hong Kong. Police on Wednesday fired tear gas and high-pressure water hoses at protesters who massed outside government headquarters in opposition to a proposed extradition bill that has sparked concerns over China’s control of the semi-autonomous territory.
What’s on the economic calendar?
Investors are focusing on inflation data, with the May consumer price index set for release at 8:30 a.m. Eastern.
What companies are in focus?
Shares of electric car maker Tesla Inc. TSLA, +1.98% were 2.6% higher in premarket action, after Chief Executive Elon Musk late Tuesday took the stage at the company’s shareholder meeting and denied the company was facing
Click here to go to original post. All rights reserved to the original post owner.