Stocks - U.S. Futures Slip Amid Global Trade Tensions
Jun 3, 2019 16:59
U.S. futures fell on Monday as global trade tensions continued to dampen investors’ risk appetite.
China released a government paper on Sunday, accusing the U.S. of undermining trade negotiations, and warned that a continued tit-for-tat trade war will hurt the global economy.
Meanwhile, Mexico sent a delegation to Washington to start talks after President Donald Trump announced plans to increase tariffs on Mexican goods in order to pressure it into stopping illegal immigration into the U.S. .
fell 95 points or 0.4% by 6:44 AM ET (10:44 GMT), while tech-heavy lost 41 points or 0.6% and was down 10 points or 0.4%.
Amazon.com (NASDAQ:) fell 0.9% after the Washington Post and New York Times reported that the Department of Justice had agreed to let the Federal Trade Commission lead antitrust scrutiny of the company.
Alphabet (NASDAQ:), the parent company of Google, was down 2.9%, after its YouTube, Gmail and Google Cloud services were disrupted on Sunday.
Cruise liner Carnival (NYSE:) fell 0.6% ahead of a federal court ruling on a settlement agreement relating to allegations of environmental offenses.
Boeing (NYSE:) slipped 1.4% on reports that some of its 737 planes could have defective parts on its wings.
Carnival was down 0.6% ahead of a federal court hearing in Miami on a settlement agreement relating to alleged environmental offenses.
Elsewhere, Netflix (NASDAQ:) inched up 0.2%, while semiconductor company Cypress (NASDAQ:) jumped 23.8% on news that it is being acquired by German chipmaker Infineon Technologies (DE:) in a $10 billion deal, including debt.
Amid fears of a global slowdown, data for May is out at 9:45 AM ET (13:35 GMT), while the is released at 10:00 AM ET (14:00 GMT).
Manufacturing data in Asia overnight showed that activity in the region is weakening, while euro zone manufacturing registered its fourth consecutive contraction.
In commodities, rose 0.8% to $53.95 a barrel, while gained 0.8% to $1,322.15 a troy ounce. The , which measures the greenback against a basket of six major currencies, lost 0.1% to 97.590.