Trump dice que el reporte sobre China es incorrecto. Los futures a la baja.
Stock futures turn negative after Trump says a report on trade deal is 'completely wrong'
PUBLISHED 15 HOURS AGO UPDATED 6 MINS AGO
Fred Imbert
@foimbert
Sam Meredith
@smeredith19
CNBC.COM
Wall Street set to extend Thursday's gains amid growing China trade hope
A trader works before the closing bell at the New York Stock Exchange (NYSE) on September 20, 2019 in New York City.
U.S. stock index futures trimmed gains on Friday after President Donald Trump tweeted a Wall Street Journal report on the U.S.-China trade deal is "completely wrong."
Around 9:10 a.m. ET, Dow Jones industrial average futures were down 8 points and indicated a slight loss at the open. Dow futures were up more than 100 points earlier in the day. S&P 500 and Nasdaq 100 futures also gave their gains.
It was unclear which parts of the report the president was disputing. The Wall Street Journal and CNBC reported Thursday the U.S. agreed to a so-called phase one trade deal with China in principle, citing sources.
As part of the deal, the U.S. would scrap additional levies set to take effect on Sunday. The U.S. also proposed cutting tariffs on $360 billion in Chinese goods by up to 50%. One of the sources also told CNBC that President Donald Trump was focused on how much in U.S. agricultural products China would purchase.
The Dow jumped more than 200 points while the S&P 500 closed 0.9% higher on Thursday. The Nasdaq Composite ended the day up 0.7%. All three touched record highs on Thursday.
Wall Street was headed for solid weekly gains in anticipation of a deal ahead of the Sunday tariff deadline. The S&P 500 and Nasdaq were both up 0.7% for the week while the Dow had gained 0.4% through Thursday.
However, China remained awfully quiet after news of the agreement broke. Official Chinese state media has yet to comment on the news. A source also told CNBC's Eunice Yoon that China has concerns over hard agricultural purchases being pushed by the U.S. There are also worries that Trump could hit China with tariffs even after a deal is reached, the source said. However, Chinese officials are expected to hold a news conference at 9:30 a.m. ET.
China and the U.S. have been fighting a trade war for nearly two years as the Trump administration tries to level what it sees as an uneven playing field. The trade war has dented business sentiment and has sparked volatile moves in capital markets.
Brexit boost
Stocks have been on a massive tear this year despite the lingering trade fears. Through Thursday's close, the S&P 500 is up 26.4% for 2019. The Dow and Nasdaq are up 20.6% and 31.4%, respectively, this year.
Futures also moved after exit polls showed the U.K.'s Conservative party winning a big majority in Parliament, giving Prime Minister Boris Johnson a clear path to move forward with his Brexit plans.
The British pound surged more than 2% against the U.S. dollar, hitting its highest level since the summer of 2018.