Breaking News
0

Stocks - U.S. Futures Flat Amid Worry Over Slowing Chinese Economy

Stock MarketsFeb 04, 2019 06:42AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

Investing.com – U.S. futures pointed to a subdued opening bell despite a strong January as fears of a slowdown in China increased investor caution ahead of earnings from Google's parent company Alphabet (NASDAQ:GOOGL).

Electronics giant Sony warned overnight that weakening global demand for smartphones could hit its chip and image sensor divisions this year, sending its stock down some 9%.

Stocks posted their best January in nearly 30 years as the market recovered from December’s steep sell-off, although signs of a slowdown in China, especially, hit Apple (NASDAQ:AAPL) sales and other technology companies. Sony is a big supplier of components to Apple.

China’s slowdown, caused in part by U.S. trade tariffs, could hit Wall Street’s bottom line as many blue-chips rely on China for sales.

The S&P 500 futures were flat as of 6:40 AM ET (11:40 GMT) while Dow futures lost 1 points or 0.01%. Meanwhile tech-heavy Nasdaq 100 futures was flat.

On the earnings front, Sysco (NYSE:SYY), Gilead Sciences (NASDAQ:GILD), Seagate Technology (NASDAQ:STX) and Overstock.com (NASDAQ:OSTK) are expected to report results, along with Alphabet, which reports after the close. Clorox Co (NYSE:CLX) earlier reported earnings slightly above consensus for the three months to December.

Bristol-Myers Squibb Company (NYSE:BMY) was among the top gainers in premarket trading, jumping 4.2% on a report that activist investor Starboard Value had taken a stake in it. BMS's shares fell sharply last month after it announced it wanted to buy cancer drug specialist Celgene (NASDAQ:CELG) for $74 billion. The bid was criticized by some as too generous. Celgene's shares slumped 4.9% on fears Starboard may seek to revise the deal.

Meanwhile, General Electric (NYSE:GE) rose 0.88%. Harmony Gold Mining Company Limited (NYSE:HMY) was down 4.4% and Procter & Gamble Company (NYSE:PG) inched down 0.06%.

On a light day for data, investors are also looking ahead to factory orders figures for November at 10:00 AM (15:00 GMT).

In commodities, gold futures slipped 0.53% to $1,315.05 a troy ounce, while crude oil hit a two-month high overnight before edging back down $55.25 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.16% to 95.453.

Stocks - U.S. Futures Flat Amid Worry Over Slowing Chinese Economy
 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments
Joe Fusco
Joe Fusco Feb 04, 2019 7:45AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This is the same story for the last 4 months.  If they make a deal great the market will rise if not than forgetaboutit.
Michael Chen
Michael Chen Feb 04, 2019 7:21AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
one
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email