Stocks at risk of turning negative for week as trade woes overshadow GE, Microsoft results

U.S. stock-index futures struggled for direction on Friday, as investors wrestle with escalating tensions between the U.S. and major trading partners, though investors also focused on quarterly results from General Electric and Microsoft.

Futures for the Dow Jones Industrial Average fell 82 points, or 0.3%, to 24,978.00, and futures for the S&P 500 futures slipped 5.80 points to 2,799.25, a decline of 0.2%. Nasdaq-100 futures however, rose 19.75 points, or 0.3%, to 7,387.25

The Dow S&P 500 and Nasdaq Composite closed lower Thursday. The Dow broke a five-session win streak by falling 0.5% to 25,064.50, and the S&P 500 lost 0.4% to 2,804.49, led by a sell-off in the financial sector. The Nasdaq Composite Index shed 0.4% to 7,825.30.

Based on Thursday’s close, the Dow is up 0.2% for the week while the S&P is up 0.1%. The Nasdaq is flat.

Source: Marketwatch

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Russia, China Delay US Push for Halt of Refined Petroleum to North Korea

Russia and China have requested more time to consider a U.S. request to stop deliveries of refined petroleum products to North Korea, diplomats said Thursday.

The U.S. asked a U.N. sanctions committee last week to halt the shipments after accusing North Korea of exceeding a U.N. limit on fuel deliveries through illegal imports.

The U.S. claimed the imports go beyond the quota of 500,000 barrels per year allowed under U.N. sanctions and asked the committee to inform all U.N. member nations and the public that North Korea has violated the quota.

The U.S. also asked the committee to urge member states to exercise “enhanced vigilance” against Pyongyang’s attempts to obtain the products and to prevent ship-to-ship transfers.

The quota was among the sanctions imposed by the Security Council last December in response to North Korea’s launch of a missile North Korea said is capable of striking anywhere on the U.S. mainland.

At the June summit between U.S. President Donald Trump and North Korean leader Kim Jong Un in Singapore, Kim agreed to denuclearization. The Trump administration, however, has said sanctions will remain in place until the denuclarization process, which has yet to begin, is completed and verified.

Source : VOA

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Tokyo Stocks Close Lower on Higher Yen, Trade Worries

Tokyo stocks closed lower on Friday on a higher yen, with investors cautious ahead of the beginning of Japan’s corporate earnings season and worries lingering over trade frictions.

The benchmark Nikkei 225 index lost 0.29 percent, or 66.80 points, to close at 22,697.88 while the broader Topix index was down 0.26 percent, or 4.61 points, at 1,744.98.

Source : AFP

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