Trade, Geopolitical Concerns May Lead To Pullback On Wall Street

RTTNews – The major U.S. index futures are pointing to a lower opening on Thursday following the rebound seen over the course of the previous session.

Lingering trade concerns may weigh on the markets following President Donald Trump’s recent comments downplaying expectations for a trade deal with China.

Potentially adding to the trade concerns, Commerce Secretary Wilbur Ross has initiated an investigation into whether imports of automobiles and parts threaten to impair U.S. national security.

“There is evidence suggesting that, for decades, imports from abroad have eroded our domestic auto industry,” Ross said in a statement.

He added, “The Department of Commerce will conduct a thorough, fair, and transparent investigation into whether such imports are weakening our internal economy and may impair the national security.”

Continued uncertainty about the planned meeting between Trump and North Korean leader Kim Jong Un may also generate some selling pressure.

North Korean vice foreign minister Choe Son-hui raised the possibility of canceling the historic summit following what she called “ignorant and stupid” comments by Vice President Mike Pence.

“Whether the U.S. will meet us at a meeting room or encounter us at nuclear-to-nuclear showdown is entirely dependent upon the decision and behavior of the United States,” Choe said, according to the state-run Korean Central News Agency.

She added, “In case the U.S. offends against our goodwill and clings to unlawful and outrageous acts, I will put forward a suggestion to our supreme leadership for reconsidering the DPRK-U.S. summit.”

Stocks showed a notable turnaround over the course of the trading day on Wednesday after coming under pressure early in the session. situs judi online The major averages climbed into positive territory following the release of the minutes of the latest Federal Reserve meeting.

The major averages ended the day just off their highs of the session. The Dow edged up 52.40 points or 0.2 percent to 24,886.81, the Nasdaq climbed 47.50 points or 0.6 percent to 7,425.96 and the S&P 500 rose 8.85 points or 0.3 percent to 2,733.29.

The upward move seen late in the session came as the minutes of the Fed’s monetary policy meeting earlier this month were seen as dovish.

The minutes showed some uncertainty about the outlook for inflation, with some questioning whether the rate of inflation will be sustained at the Fed’s 2 percent target.

Others noted a temporary period of inflation modestly above 2 percent would be consistent with the Fed’s symmetric inflation objective.

“While the economy is generally viewed as being strong by just about everyone, there remains uncertainty about inflation and therefore the path of interest rates,” said Joel L. Naroff, President and Chief Economist at Naroff Economic Advisors.