TrendMacro CIO Donald Luskin discusses the impeachment inquiry and provides logistics on the China tariffs and the hype surrounding them.
U.S. equity futures are pointing to a lower open to start the week on Wall Street.
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The Bond market will be closed today for Veterans Day. Equity markets will trade as usual.
The three major futures indexes are indicating a decline of 0.3 percent.
Shares declined Monday in Asia as investors watched for the latest developments in the China-U.S. trade war saga.
Hong Kong led the retreat, with the Hang Seng falling 2.7 percent after a police officer wounded a protester in a shooting. Demonstrators blocked subway lines and roads in the southern Chinese financial hub during the Monday morning commute.
China’s Shanghai Composite declined 1.6 percent, while Japan’s Nikkei lost 0.3 percent.
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Hopes for a breakthrough in the trade standoff between Beijing and Washington were shaken when President Trump on Friday dismissed a Chinese official’s assertion that the U.S. side had agreed to roll back some tariffs on Chinese goods that it has imposed in the conflict over trade and technology policies.
A Chinese Commerce Ministry spokesman said Thursday that the two sides had agreed to a phased cancellation of their tariff hikes as part of an agreement now under negotiation.
“They’d like to have a rollback,” Trump told reporters at the White House. “I haven’t agreed to anything.”
That raised doubts over progress officials had suggested was being made in finalizing a “Phase 1” deal that was announced on Oct. 12.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 27681.24 | +6.44 | +0.02% |
| SP500 | S&P 500 | 3093.08 | +7.90 | +0.26% |
| I:COMP | NASDAQ COMPOSITE INDEX | 8475.312402 | +40.80 | +0.48% |
Shares in New York ended last week with healthy gains, though stocks wobbled between small gains and losses on Friday amid the conflicting signals about the trade talks.
In the end, the S&P 500 rallied in the last hour of trading, closing at a record up 0.3 percent. That was the fifth straight week of gains for the index, which matches its longest winning streak in the last two years.
The Dow Jones Industrial Average edged up less than 0.1 percent and the Nasdaq gained 0.5 percent.
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In Europe on Monday, London’s FTSE was lower by 0.6 percent, Germany’s DAX slipped 0.2 percent and France’s CAC was little changed.
The Associated Press contributed to this article.
