US pre-open: Stocks seen mixed after China trade news
By Iain Gilbert
Date: Wednesday 11 Sep 2019
(Sharecast News) - US stock futures pointed to another mixed session on Wall Street on Wednesday as the focus shifted back to trade relations between China and the US.
At 1225 BST, Dow futures were up 0.09%, while S&P 500 futures were flat and Nasdaq futures were down 0.05%.
The Dow closed 73.92 points firmer on Tuesday, advancing for a fifth consecutive day on the back of renewed optimism around trade talks between the US and China, and while stocks were mostly muted ahead of the bell on Wednesday, sentiment again got a slight boost after Beijing released a tariff exemptions list for products from the US early in the morning.
China confirmed it would exempt 16 categories of US goods from 25% tariffs that it imposed on roughly $50bn worth of imports last summer.
Beijing's Ministry of Finance said the exemptions would apply to items that include some medicines, animal feed and lubricants, although more than 5,000 types of US goods, including key agricultural products such as soybeans and corn, remained subject to the additional tariffs.
Elsewhere, according to the American Chamber of Commerce in Shanghai, American companies in China had sped up their withdrawal from the mainland as a result of the ever-increasing tariffs continuing to hurt their operations.
On the data front, August's producer price index will be published at 1330 BST, while wholesale inventories and trade sales for July will follow at 1500 BST.
In corporate news, Aurora Cannabis and Tailored Brands will both report earnings throughout the course of the day.
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