Stocks Start Thursday Flat

THURSDAY – U.S. stock index futures indicated a flat open Thursday as a move to record highs took a pause amid persisting worries around U.S-China trade relations.

At 8:20 a.m. ET, Dow Jones Industrial Average futures slipped 37 points, pointing to a decline of 21 points at the open. The 30-stock average closed at an all-time high in the previous session. Futures on the S&P 500 — which also eked out a record closing high on Wednesday — and Nasdaq 100 both fell marginally.

Talks between the U.S. and China are thought to have hit a snag over agricultural purchases. The Wall Street Journal reported on Wednesday that Beijing is resisting requests from the White House to curb tech transfers as well as enforcement mechanisms. China is also reportedly wary about committing to specific farm purchases from the U.S.

Chinese Ministry of Commerce spokesman Gao Feng said overnight that both countries are holding “in-depth” discussions about a phase one deal, but noted that the rolling back of some tariffs is key to reaching an agreement.

On the data front, the latest weekly jobless claims will be released at around 8:30 a.m. ET. The Labor Department is poised to report its producer price index (PPI) for October at the same time.

At around 10 a.m. ET, Federal Reserve Chair Jerome Powell will testify before the House Budget Committee on the economic outlook.

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