© Reuters.

Investing.com – U.S. futures were lower on Friday, as a imminent deal between the U.S. and China remains unlikely.

The fell 14 points or 0.51% to 2,720.5 as of 6:45 AM ET (11:45 GMT) while were down 99 points, or 0.39%, to 25,206.0. Meanwhile tech heavy decreased 81 points, or 1.17%, to 6,834.5.

Hopes of a trade deal between the U.S. and China receded after a White House official told Reuters on Thursday that China’s written response to U.S. demands for trade reform are unlikely to lead to a deal in the near future. U.S. President Donald Trump and Chinese President Xi Jinping are expected to talk about trade disagreements at the G20 summit later this month.

U.S. Trade Representative Robert Lighthizer denied a report that he said another round of tariffs on Chinese imports had been put on hold as the two nations pursue talks.

“The plan for the tariffs … has not changed at all. Any reports to the contrary are incorrect,” a spokesperson for Lighthizer’s office said in a statement.

Tariffs on $200 billion of Chinese goods are set to increase to 25% from 10% on Jan. 1.

Technology stocks were under pressure in premarket trading, after Nvidia forecast a fall in chip sales for the holiday quarter as demand for Apple (NASDAQ:) products waned. Shares of NVIDIA Corporation (NASDAQ:) plunged 17%, while Apple dipped 0.89% and Advanced Micro Devices Inc (NASDAQ:) fell 5%.

Facebook (NASDAQ:) was down 1.10% amid pressure over how the social media network manages community standards and posts. Amazon.com (NASDAQ:) lost 1.44% while Tesla (NASDAQ:) fell 0.76%.

READ  Greece exits bailout programme after eight years, but Turkish fears remain - business live

Elsewhere, General Electric (NYSE:) rose 0.37% while Pacific Gas & Electric Co (NYSE:) rebounded 33%.

In commodities, surged 1.45% to $1,216.60 a troy ounce while futures increased 1.58% to $57.35 a barrel. The which measures the greenback against a basket of six major currencies, was up 0.09% to 96.88.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

WHAT YOUR THOUGHTS

Please enter your comment!
Please enter your name here