Dow futures sink as Trump says reports on ‘level of tariff lift [are] incorrect'
U.S. stock futures retreated Monday morning as a lack of progress on China-U.S. trade negotiations momentarily took the air out of a record run for equity markets. Meanwhile, bond markets were closed for Veterans Day. Investors were awaiting speeches from President Donald Trump and Federal Reserve Chairman Jerome Powell later in the week.Futures for the Dow Jones Industrial Average YMZ19, -0.39% were down 97 points, or 0.4%, to 27,534, those for the S&P 500 index ESZ19, -0.40% declined 11.
Trump also suggested that the pace of talks were going more slowly than he would prefer and that China had more to benefit from striking a tariff resolution soon. Meanwhile, the Securities Industry and Financial Markets Association, or Sifma, has recommended the bond market’s closure in line with the U.S. Treasury Department’s holiday schedule.
Which stocks are in focus? Boeing Co. BA, -1.77% shares were down 0.7% in premarket trade Monday, after American Airlines Group Inc. AAL, -0.42% and Southwest Airlines Co. LUV, -0.10% extended their 737 Max cancellations until early March. Shares of Apple Inc. AAPL, +0.27% and Goldman Sachs Group GS, -0.17% were 0.6% and 0.8% lower, respectively, during premarket trade after The New York Department of Financial Services said its opening a probe into the new Apple Card after a series of tweets from a technology entrepreneur David Heinemeier Hansson accused it of gender discrimination.
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