U.S. stock index futures pointed to a mixed open on Tuesday as Wall Street tried to build on a four-day winning streak that concluded with the major averages hitting record highs.
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Around 7:20 a.m. ET, Dow Jones Industrial Average futures were down 33 points, indicating a slip of 13 points at the open. S&P 500 and Nasdaq 100 futures also pointed to a muted start to the session.
Dow futures were pressured by a 1% drop in Boeing shares. The stock fell in the premarket on news the aerospace giant is planning to suspend production of the 737 Max jet.
On Monday, the Dow, S&P 500 and Nasdaq all reached all-time highs following a preliminary trade agreement between the world’s two largest economies. Late last week, President Donald Trump and Chinese officials announced that the U.S. and China had agreed to a so-called “phase one” agreement.
It is understood that Beijing agreed to billions of dollars in agricultural purchases from the U.S., while Trump said he would not move ahead with a new round of planned tariffs, among other items.
The deal, which is not yet signed, is set to be confirmed in the first week of January, according to U.S. Trade Representative Robert Lighthizer.
Meanwhile, sterling fell more than 1% on Tuesday after reports suggested the British government was preparing to make it illegal for the post-Brexit transition period to be extended, leaving little time for a trade deal to be agreed with the EU.
On the data front, housing starts and building permits for November, and a business leaders survey for December will all be released at 8:30 a.m. ET. Industrial production figures for November will be released at 9:15 a.m. ET, and the latest Job Openings and Labor Turnover Survey (JOLTS) is set to follow shortly thereafter.
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December 17, 2019 at 05:00PM
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US futures point to slightly higher open - msnNOW
Business - Latest - Google News
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