Home / Markets / Wall Street Falters Ahead of Opening Bell as China Toughens Trade War Rhetoric

 

US stocks were set for a downbeat session Friday after Chinese state-run media toughened their rhetoric on the increasingly acrimonious trade dispute between two of the world’s largest economies.

In a front page commentary, the Communist Party’s People’s Daily said the trade war with the United States will only make China stronger and will never bring the country to its knees.

Oil prices nudged higher with global benchmark Brent crude up 0.34%, and US West Texas Intermediate crude up 0.5% recently amid intensifying tensions in the Middle East.

At 10 am, data are expected to show US consumer sentiment coming in at 97.5 for the preliminary May reading compared with April’s 97.2. The consensus for April’s index of leading economic indicators is an increase of 0.3% versus a solid 0.4% rise in March, according to data compiled by Econoday.

In equities, shares of Pinterest (PINS) were 17% lower pre-bell after the digital scrapbooking platform reported a Q1 adjusted loss, which came in wider than the average Street estimate.

 
Share this page