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TEHRAN, Mar 06 -U.S. stock futures were subdued on Wednesday in the absence of fresh developments on trade, with investors taking a step back after a strong run in equities since the start of the year.
TEHRAN, Young Journalists Club (YJC) -Hopes that the United States and China will end their bitter trade row and a dovish stance on future interest rate hikes by the Federal Reserve has propelled the S&P 500 11 percent higher this year.
But the benchmark index has been struggling to go past the 2,800-point mark, a key resistance level, closing lower in five of the past six sessions.
“After the trade euphoria that kick-started the week, markets have quickly become stuck in a soggy patch with no real catalysts to push them one way or the other with any conviction,” Deutsche Bank strategist Jim Reid wrote in a note to clients.
A report that the United States and China would arrive at a trade agreement as early as month-end kicked off the week on a positive note, but the optimism-driven rally has since fizzled out.
At 7:10 a.m. ET, Dow e-minis were down 38 points, or 0.15 percent. S&P 500 e-minis were down 4 points, or 0.14 percent and Nasdaq 100 e-minis were down 8.5 points, or 0.12 percent.
General Electric Co shares fell 1.8 percent in premarket trade, extending losses from a day earlier, after the conglomerate warned of a negative net cash flow from its industrial businesses this year.
Source: reuters
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