Stocks- U.S. Futures Fall as U.S. Trade Tariffs Begin

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La Bourse de New York a débuté mercredi en léger repli, victime des divergences persistantes dans les négociations autour de la dette grecque et malgré une contraction de l'économie américaine au premier trimestre qui a été moins forte que prévu. L'indice Dow Jones perdait 0,29% dans les premiers échanges. Le Standard & Poor's 500, plus large, reculait de 0,13% et le Nasdaq Composite cédait 0,08%. /Photo d'archives/REUTERS/Lucas Jackson

U.S. futures pointed to a slightly lower opening bell on Friday, as trade tariffs against China went into effect.

The S&P 500 futures fell four points or 0.15% to 2,734.50 as of 6:47 AM ET (10:47 GMT) while Dow futures decreased 73 points or 0.30% to 24,270.0. Meanwhile tech heavy Nasdaq 100 futures lost 11 points or 0.16% to 7,114.00.

Trade conflict between the two biggest economies in the world began in force on Friday, when U.S. tariffs on $34 billion worth of Chinese goods went into effect at 12:01 AM ET (04:01 GMT). An additional tariffs on another $16 billion is expected to go into effect in two weeks. Meanwhile U.S. President Donald Trump has given instructions to identify a further $300 billion on possible Chinese goods.

China has also retaliated with tariffs on $34 billion of American goods, according to Xinhua news. Beijing had previously said it would impose tariffs on U.S. agricultural products, crude imports, and vehicle products.

Tesla (NASDAQ:TSLA) was among the top gainers in pre-market trading, inching up 0.11% while Facebook (NASDAQ:FB) rose 0.03%.

Elsewhere Cisco Systems (NASDAQ:CSCO) fell 0.38% while semiconductor Micron Technology Inc (NASDAQ:MU) dipped 0.32% and Intel (NASDAQ:INTC) was down 0.32% after reports that Apple (NASDAQ:AAPL) won’t use the companies 5G modems in its 2020 iPhones.

In economics news, nonfarm payrolls comes out at 8:30 AM ET (12:30 GMT).

In Europe stocks were mostly flat. Germany’s DAX rose two points or 0.02% while in France the CAC 40 increased three points or 0.06% and in London, the FTSE 100 was down 10 points or 0.14%. Meanwhile the pan-European Euro Stoxx 50 gained two points or 0.06% while Spain’s IBEX 35 inched up three points or 0.04%.

In commodities, gold futures fell 0.28% to $1,255.30 a troy ounce while crude oil futures decreased 0.37% to $72.67 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was down 0.07% to 94.06.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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