Stock futures point to a rebound as diplomatic pressures ease

FAN Editor

U.S. stock futures pointed to gains after stocks fell in two of the previous three sessions.

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Despite President Trump calling off the June 12 summit with North Korean leader Kim Jong Un, the North Korean government said it was open to resolving the issues with the U.S.

Dow Jones futures were rising by 0.15%. The S&P 500 added 0.13% and the Nasdaq Composite was up 0.31%.

Stocks fell Thursday after President Trump called off the June 12 summit with the North Korean leader, adding to geopolitical concern.

Trump said the meeting was off because of the “tremendous anger and open hostility” displayed in a recent statement from leader Kim Jong Un.

The Dow Jones Industrial Average decreased 75.05 to 24,811.76. The S&P 500 dropped 5.53 points to 2,727.76. The Nasdaq Composite slipped 1.53 points to 7,424.43.

Ticker Security Last Change %Chg
I:DJI DOW JONES AVERAGES 24811.76 -75.05 -0.30%
SP500 S&P 500 2727.76 -5.53 -0.20%
I:COMP NASDAQ COMPOSITE INDEX 7424.4287 -1.53 -0.02%

Adding to investor concern, the Trump administration confirmed on Wednesday that it may slap tariffs on imported vehicles and automotive parts, pending the outcome of an investigation by the Department of Commerce.

Data released Thursday included weekly jobless claims, which rose to a seven-week high of 234,000. The latest reading on housing showed a big slip in existing home sales because of a supply pinch.

On Friday, the economic calendar includes the latest data on durable goods and a reading on consumer sentiment.

In China and Hong Kong, stocks edged lower as sentiment soured after the postponement of the planned meeting with North Korea.

China’s Shanghai Composite  slipped 0.1%.

Hong Kong’s Hang Seng index dropped 0.3%.

Japan’s Nikkei ended the day up 0.1%, but lost 2.1% for the week.

FOX Business’ Leia Klingel contributed to this article.

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