U.S. stock index futures were slightly lower Thursday morning, as investors closely monitor the status of high-level trade talks between the world’s two largest economies.
Deputy-level trade talks between the US and China aimed at laying the groundwork for high-level negotiations later this week failed to yield any progress on critical issues and during the discussions on Monday and Tuesday in Washington, the Chinese refused to talk about forced technology transfers which are a core US grievance regarding China’s economic policies.
Tariffs on US$250 billion of Chinese goods are set to increase from 25 to 30% on Tuesday, while fresh duties of 15% on US$160 billion of large consumer products will go into effect on December 15.
According to the source, the Chinese delegation is already planning to cut short its stay in Washington by one night and which means they are omitting The 13th round of talks which will be held this week.
What happened on yesterday:
At the closing bell, the Dow Jones Industrial Average rose or 0.7%, the S&P 500 gained 0.9%, and the Nasdaq added or 1%.
All 11 major sectors of the S&P 500 closed higher, among them technology and energy sectors being notable gainers in the percentage term.
On the data front, the number of job openings has been changed at 7.1 million on the last business day of August which was little changed for total private and for the government. The job openings rate was 4.4%. The number of hires edged down to 5.8 million in August. The hires rate was 3.8% which has been edged down for total private and was little changed for government.