U.S. stock index futures were flat on Wednesday, as escalating trade tensions between the United States and China overshadowed a strong showing for corporate earnings.
Washington is set to begin collecting 25 percent tariffs on another $16 billion in Chinese goods on Aug. 23, to which China has vowed to retaliate to an equal degree.
The index is just 1 percent shy of a record it hit on Jan. 26 as an estimated 24 percent jump in earnings from S&P companies testified to the strength of the world’s biggest economy and corporate sector.
Futures implied the index would open up at 2,860.7, about 12 points away from the record.
A sharp rally in tech and consumer discretionary stocks has already helped the Nasdaq recover much faster than the broader markets from a sell-off in February, hitting a record high late last month.
At 7:16 a.m., Dow e-minis were up 18 points, or 0.07 percent. S&P 500 e-minis were up 1.25 points, or 0.04 percent and Nasdaq 100 e-minis were up 3.25 points, or 0.04 percent.
Source : Reuters