US stocks point to a lower open after trade deficit numbers; jobless claims in focus

U.S. stock index futures were lower Thursday morning as market players remain focused on U.S.-China relations.

At around 02:15 a.m. ET, Dow futures fell 87 points, indicating a negative open of more than 87 points. Futures on the S&P and Nasdaq also pointed to a lower open.

Wall Street ended Wednesday’s session lower, posting its third consecutive decline. Investors are eager to know details from trade negotiations between the U.S. and China.

Data out on Wednesday showed that the U.S. trade deficit remains a problem. President Donald Trump has imposed a series of tariffs on countries like China, in an attempt to bring down his country’s trade deficit. However, Wednesday’s data showed that trade deficit in the U.S. hit a 10-year high in December.

As trade talks between the world’s largest economies continue, there’s fresh tensions regarding Huawei. The Chinese firm filled a lawsuit against the U.S. government, claiming the law which bans it from selling equipment to government agencies is unconstitutional.

On the economic front, there will be jobless claims and unit labour costs due at 8.30 a.m. ET; and consumer credit numbers released at 3 p.m. ET.

On the corporate calendar, H&R Block is set to report before the bell. Whereas Costco will update markets after the bell.

source: CNBC