Futures head south after China data points to decelerating retail sales

Futures head south after China data points to decelerating retail sales

On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict.

On Tuesday, financial markets took a breather after American leader labeled the trade conflict war with China as "a bit squabble" and told he’d talk to Chinese President Xi Jinping at a G20 Summit in June.

The optimistic remarks followed Monday’s market rout when the  Dow and the S&P 500 reported one of Wall Street's worst dives in 2019 because the two sides slapped tit-for-tat levies on each others imports.

However, China seems to lack enough options to respond to America without hurting its own interests. China’s data revealed shockingly weaker surge in retail sales as well as industrial output for April, increasing pressure on China to roll out more stimulus.

Worries that the trade dispute could be protracted and might affect the global economy has kept traders on edge for the last couple of days. The benchmark S&P index dived by 4% from its all-time maximum hit two weeks ago.

In addition to this, ET, Dow e-minis headed south by 0.29%. Additionally, S&P 500 e-minis decreased by 0.27%, while Nasdaq 100 e-minis tumbled by 0.25%.

In addition to this, Perrigo Company PLC headed south by about 1.3% in premarket trading due to the fact Jefferies reduced its price objective on the generic drugmaker following the company's recent move to have its higher margin generic pet care business divested.

Moreover, Henry Schein Inc went down by 1.2% due to the fact SVB Leerink downgraded the dental products distributor from "outperform" to "market perform", referring to competitive threat from online suppliers, including eBay and Amazon.

Similar

Latest news

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera