Investing.com - Financial Markets Worldwide
🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

US STOCKS-S&P futures tread water as Sino-U.S. tensions weigh

Published 05/28/2020, 06:46 PM
Updated 05/28/2020, 06:50 PM
© Reuters.
US500
-
INTC
-
SPY
-
MU
-
AMD
-

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* Futures mixed: Dow up 0.27%, S&P off 0.10%, Nasdaq down
0.58%

By Medha Singh
May 28 (Reuters) - Futures contracts for the S&P 500 were
largely flat on Thursday as investors weighed hopes of an
economic recovery against underlying tensions between the United
States and China.
Chipmakers, which are sensitive to China's growth, were
under pressure, with Intel Corp INTC.O and Advanced Micro
Devices Inc AMD.O dropping about 1% each in premarket trade.
President Donald Trump has promised action over China's new
national security legislation for Hong Kong by the end of the
week.
Analysts have warned the souring relations between the
world's two largest economies in recent weeks over trade and the
handling of the coronavirus outbreak pose the biggest threat to
the stock market's strong rally off the March lows.
The benchmark S&P 500 .SPX hit a near three-month high on
Wednesday, closing above the key psychological level of 3,000
amid growing evidence of a pick up in business activity.
Investors will also focus on Labor Department's data which
is expected to show that more than 2 million Americans sought
unemployment benefits for the 10th straight week. The report is
due at 8:30 a.m. ET. At 6:20 a.m. ET, Dow e-minis 1YMcv1 were up 69 points, or
0.27% and S&P 500 e-minis EScv1 were down 3 points, or 0.1%.
Nasdaq 100 e-minis NQcv1 were down 54.5 points, or 0.58%.
Micron Technology Inc MU.O dropped 1.1% despite raising
its revenue forecast for the third quarter. In a bright spot, Boeing Co BA.N climbed 4.2%, the most
among the 25 Dow components trading before the bell, after the
planemaker said it had resumed production of its 737 MAX
passenger jet at its Washington plant.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.