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US.Stock futures dip on weak Caterpillar forecast

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U.S. stock index futures dipped on Monday, as weak forecast fromCaterpillar added to nerves about Chinese economy, while optimism over the end to the longest U.S. government shutdown in history faded.

A packed week for markets got underway with investors bracing for large-cap tech earnings, U.S.-China trade talks and the Federal Reserve's first policy meeting this year, as futures pointed to a 0.5 percent opening loss on the S&P 500.

Adding to the woes, China data showed earnings at industrial firms shrank for a second month in December, while President Donald Trump expressed skepticism on Sunday that U.S. lawmakers could reach a deal on border security that he would accept to avoid another shutdown.

As signs of a slowdown in the world's second-largest economy become stark, investors are pinning their hopes for a compromise between Washington and Beijing on trade. Chinese Vice Premier Liu He will head to the United States on Wednesday and Thursday, for the next round of trade negotiations.

Caterpillar Inc (CAT) shares fell 5.5 percent, reversing early premarket gains after the world's largest heavy equipment maker on Monday forecast full-year profit below analysts' estimates, indicating a slide in global demand stemming from China could worsen after the company reported revenue in line with expectations for the last three months of 2018.

At 7:51 a.m. ET, Dow were down 164 points, or 0.66 percent. S&P 500 were down 13 points, or 0.49 percent and Nasdaq 100 e-minis were down 36.75 points, or 0.54 percent.


 Trader Velizar Mitov

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