Futures on theDow Jones Industrial Average (DJIA)declined in aftermarket trading on Friday, as analysts warned the investing public not to get too riled up over US- China trade optimism.
Dow Futures Edge Lower; S&P 500, Nasdaq Follow
Futures on all three major US indexes edged lower during the Asian session, setting the stage for a soft start to New York trading.Dow futuresfell by as much as 84 points. The contract was last down 42 points, or 0.2%.
S&P 500 futures slipped 0.1%. Nasdaq 100 futures contracts were down 0.3
US equities were down across the board Thursday, with energy and communication companies leading the declines. The Dow was off by as much as (points before) **************** (closing down) points.
Don’t Get Too Excited Over US-China Trade Talks, UBS Warns
Hopes of an imminent trade deal between the United States and China has launched equity prices back toward record highs – a feat that some analysts think is far too **** given given the current state of negotiations.
In a note to clients, investment bank UBS said investors should await conclusive “a more conclusive outcome before adjusting their views” on the direction of the negotiations .
Mark Haefele, chief investment officer of UBS Global Wealth Management,added:
“This outcome will be highly consequential for investors; a further escalation would markedly increase the risk of recession, while a lasting solution would likely enhance the potency of recent central bank easing. ”
People close to both talkstoldCNBC Thursday that face-to- face negotiations are set to resume Oct. 10 – 11 in Washington. Representing Beijing will be Vice Premier Liu He, who headed the special envoy to Washington during earlier negotiating rounds.
President Trump told the U.N. General Assembly on Wednesday that Chinese leaders “want to make a deal very badly,” adding that “it could happen sooner than you think.”
In the meantime, China’s commerce ministry has confirmed that the country had upped its purchase of US soybeans and pork products by a “considerable” amount.
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