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- U.S Futures dropped after Trump signaled delay in the trade deal
U.S Futures dropped after Trump signaled delay in the trade deal
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Loading...U.S Futures dropped on Tuesday after President Donald Trump said the trade deal with China may have to wait until the US presidential election in November 2020, raising concerns about delaying the settlement of the tariff dispute.
"I have no deadline, no. I think it is better to wait until the elections with China," Trump told reporters in London.
Technology stocks, including Apple Inc (AAPL.US), as well as chip makers and industrial stocks that are sensitive to the trade, fell pre-market. Most US-listed Chinese stocks also traded lower.
Dow e-minis decreased by 92 points or 0.33%. The S&P 500 e-minis was down 8.75 points or 0.28% and the Nasdaq 100 e-minis was down 32 points or 0.38%.
Shares of Audentes Therapeutics Inc (BOLD.US) have soared after the Japanese company Astellas Pharma Inc (T: 4503) said it would buy the US drug maker for about $ 3 billion in cash.
AK Steel Holding Corp (AKS.US) rose 3.8% after Cleveland Cliffs Inc (CLF.US) agreed to buy the steelmaker for about $ 1.1 billion in an all-equity deal. Shares of Cleveland Cliffs Inc fell about 9%.
Advanced Micro Devices (AMD.US) fell 3%, while Micron (MU.US) dropped 2.5% and Nvidia (NVDA.US) dropped 3.2%.
Intel (INTC.US) has dropped 1% after announcing it was in advanced talks to buy Isreali Habana Labs for about $ 1 billion.
Netflix (NFLX.US) was down 2.3% after KeyBanc Capital analyst Andy Hargreaves said customer acquisition costs would increase due to increasing competition.
ELF Beauty (ELF.US) shares fell 2% on the news that it offered 3.4 million shares at a price of $ 15.90, a 3% discount from the closing price of $ 16.38 on Monday.
The UnitedHealth Group (UNH.US) is down 2% after announcing its 2019 and 2020 earnings forecasts, with revenue expected to be $ 242 billion in 2019 and between $ 260 billion and $ 262 billion in 2020 d.
Shares of Arrowhead Pharmaceuticals (ARWR.US) have declined 4.1% after announcing a bid for 4 million shares for "common corporate purposes" and possibly new acquisitions.
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