Futures are pointing towards a negative open amid concerns about a growing trade dispute between the U.S. and China. Overseas markets also fell sharply last night after the U.S. imposed trade penalties on tires coming into the country from China.
Dow futures are lower by 62 to 9,458, the S&P 500 index futures are lower by 7 to 1,030 while the Nasdaq 100 index futures are off by 11 to 1,672. Needless to say, we are going to see some red at the open and it was one of those “weekend” events that I reminded you about on Friday.
The President has until Thursday to accept, reject or modify the U.S. International Trade Commission ruling. The Chinese government has condemned the move, calling it “protectionist and a violation of global trade rules”. This could get ugly…
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