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US STOCKS-Futures slip as Trump signals delay in trade deal with China

Published 12/03/2019, 07:44 PM
Updated 12/03/2019, 07:56 PM
US STOCKS-Futures slip as Trump signals delay in trade deal with China
AAPL
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4503
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BOLD_old
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(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* Futures off: Dow 0.33%, S&P 0.28%, Nasdaq 0.38%

By Arjun Panchadar
Dec 3 (Reuters) - U.S. stock index futures slipped on
Tuesday after President Donald Trump said a trade deal with
China might have to wait until after the U.S. presidential
election in November 2020, sparking fears of a delay in
resolving the tariff dispute.
"I have no deadline, no. In some ways I think it's better to
wait until after the election with China," Trump told reporters
in London where he was due to attend a meeting of NATO leaders.
Technology stocks including Apple Inc AAPL.O as well as
chipmakers and industrial stocks, which are trade-sensitive,
fell in premarket trading. Most U.S.-listed Chinese stocks were
also trading lower.
The prolonged dispute between the world's top two economies
has roiled financial markets, disrupted supply chains and dented
global growth.
The latest fallout of the trade war on the domestic economy
was dismal factory activity data, which led Wall Street's main
indexes in the previous session to pull back from their record
highs.
At 6:33 a.m. ET, Dow e-minis 1YMcv1 were down 92 points,
or 0.33%. S&P 500 e-minis EScv1 were down 8.75 points, or
0.28% and Nasdaq 100 e-minis NQcv1 were down 32 points, or
0.38%.
In corporate news, shares of Audentes Therapeutics Inc
BOLD.O doubled in value after Japan's Astellas Pharma Inc
4503.T said it would buy the U.S. drugmaker for about $3
billion in cash. AK Steel Holding Corp AKS.N rose 3.8% after miner
Cleveland Cliffs Inc CLF.N agreed to buy the steel maker for
about $1.1 billion in an all-stock deal. Shares of
Cleveland-Cliffs fell about 9%.

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