Stocks - U.S. Futures Fall as Trade Jitters Return
9 August 2019, 13: 33
U.S. futures tumbled on Friday on renewed trade-related jitters after a report that the White House delayed a decision on allowing American companies to restart business with Chinese tech giant Huawei.
Bloomberg reported on Thursday night that the U.S. government is holding off on its decision, just a few days after Beijing halted its purchases of U.S. farming goods. Tensions grew this week after the U.S. officially declared China a currency manipulator and China pegged its yuan below 7 to the dollar.
Meanwhile, weak economic data from China also increased fears of a global slowdown, as China's fell in year-on-year terms for the first time in three years in July.
fell 65 points or 0.8% by 6:40 AM ET (10:40 GMT), while dipped 147 points or 0.6% and declined 19 points or 0.7%.
Uber (NYSE:) plummeted 8.9% in premarket trade after posting a record $5.2 billion loss, due to high costs related to its IPO and, more worryingly, to a slowdown in growth in its ride-hailing business.
Activision Blizzard (NASDAQ:) fell 1.8% after forecasts for the third-quarter were below estimates and revenue dipped due to high costs of developing its key game franchises.
Walt Disney (NYSE:) dipped 0.4%, while Boeing (NYSE:) declined 1% after a Wired report on security flaws in the airplane maker's 787 Dreamliner jet.
Broadcom (NASDAQ:) was in focus after it announced it is acquiring cybersecurity firm Symantec's (NASDAQ:) enterprise security business for $10.7 billion.
In commodities, rose 1.3% to $53.19 a barrel. gained 0.3% to $1,514.45 a troy ounce, while the , which measures the greenback against a basket of six major currencies, was down 0.1% to 97.343.