US pre-open: Stocks seen lower as US-China trade relations remain in focus
By Iain Gilbert
Date: Monday 11 Nov 2019
(Sharecast News) - US futures had stocks opening lower on Monday as market participants continued to closely monitor goings-on in US-China trade talks and demonstrations in Hong Kong.
As of 1225 GMT, Dow futures were down 0.39%, while S&P 500 and Nasdaq futures had the indices opening 0.36% and 0.43% lower, respectively.
The Dow closed just 6.44 points higher at the end of last week as US trading closed on a somewhat mixed note after President Donald Trump said no agreement had been struck to roll back tariffs on China.
The President's comments came shortly after an earlier report from the Chinese commerce ministry which said both sides had agreed to cancel existing tariffs on each other in phases.
Also in focus was news that police in Hong Kong had opened fire on Monday at mass protests, which kicked off again following the arrest of three pro-democracy lawmakers over the weekend.
Markets.com analyst Neil Wilson said: "We are starting the week in risk-off mode: Fiery protests in Hong Kong and the US-China trade war are conspiring to dampen the mood in markets on Monday.
"As usual expect the risk switch to be flicked to 'on' pretty quickly with the standard trade war pump in due course. And in terms of Hong Kong, we wonder how long term this de-risking kneejerk will last."
No major economic data points or corporate results were scheduled for release.
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