US stocks point to lower open on global growth concerns

FAN Editor

U.S. equity futures are indicating small losses at the start of trading on Friday after China’s growth slipped to its lowest level in 26 years.

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The three futures indexes are pointing to a slide of 0.1 percent.

China reported growth of 6 percent for the July-September quarter, worse than forecast and the slowest since the country began reporting quarterly data 26 years ago.

It adds to pressures on global growth and ups pressure on Chinese leaders to avert politically dangerous job losses as they fight a tariff war with President Trump over Beijing’s trade surplus and technology ambitions.

In Asian markets, China’s Shanghai Composite finished down 1.3 percent and off 1.2 percent for the week. Hong Kong’s Hang Seng ended the day down 0.5 percent, but up 1.6 percent for the week. Japan’s Nikkei closed up 0.2 percent and 3.2 percent for the week.

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In Thursday’s session, U.S. stocks closed broadly higher on Wall Street as investors welcomed another batch of encouraging quarterly results from big companies.

We’ll see if the trend continues Friday when consumer finance heavyweight American Express posts 3Q numbers. Coca-Cola will also be reporting.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 27025.88 +23.90 +0.09%
SP500 S&P 500 2997.95 +8.26 +0.28%
I:COMP NASDAQ COMPOSITE INDEX 8156.852634 +32.67 +0.40%

The S&P 500 index gained 0.3 percent, the Dow Jones Industrial Average managed to add 0.1 percent and the Nasdaq rose 0.4 Percent.

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U.S. stocks also got a boost from news that Britain had reached a tentative deal to separate from the European Union. The deal still faces a potentially tough fight for approval in Britain’s divisive Parliament.

The Associated Press contributed to this article.

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