Continued uncertainty over the lingering Beijing-Washington trade standoff are pressuring stocks this morning
Stock futures are set to retreat from last week's record wins, as growing concerns over U.S.-China trade plague Wall Street. This souring sentiment comes afterPresident Donald Trump on Friday tempered expectations for a mutual tariff rollback. An upsurge of violence in Hong Kong protests over the weekend is also weighing on investor sentiment. Dow futures are trading more than 134 points below fair value, with news that American Airlines (AAL) and Southwest Airlines (LUV) have both removed the Boeing 737 MAX from their flight schedules until early March sending blue-chip BA stock down 0.7% ahead of the bell.
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The economic calendar is bare today, but earnings from Amicus Therapeutics (FOLD), Flotek Industries (FTK), and Tidewater (TDW) are due.
It was a rough start to the week for Asian markets, with heightened tensions in Hong Kong impacting the entire region. The Hang Seng shed 2.6%, when protesters were injured after police opened fire amid mass demonstrations. China's Shanghai Composite gave back 1.8%, after data showed sharp declines in the consumer and producer price indexes last month. South Korea's Kospi fell 0.6%, and Japan's Nikkei gave back early gains to end down 0.3%.
Over in Europe, stocks are also lower as investors await the latest U.S.-China trade headlines. London's FTSE 100 is down 1.1%, despite upbeat third-quarter gross domestic product and hiring plans numbers. Rounding out the region, the French CAC 40 is down 0.1% at last check, while the German DAX is off 0.4%.