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Futures Point to Lower Ahead of Trade Talk

T.TD

U.S. stock index futures were lower Monday as investors prepared for the start of U.S.-China trade talks later this week

Futures for the Dow Jones Industrials slumped 41 points, or 0.2%, early Monday to 26,484

Futures for the S&P 500 docked five points, or 0.2%, at 2,946

NASDAQ Composite fell 12.75 points, or 0.2%, to 7,754

The moves in pre-market trade come after a media report suggested Chinese officials were increasingly reluctant to agree to a broad trade deal pursued by President Donald Trump.

Vice Premier Liu He, who will lead negotiations for China, told dignitaries that his offer to the U.S. will not include commitments on reforming Chinese industrial policy or government subsidies, Bloomberg reported Sunday, citing sources familiar with the matter.

Trade talks between the U.S. and China are set to resume in Washington, D.C., on Thursday.

Wall Street came into Monday's session after the Dow and S&P 500 posted their third straight weekly decline after a flurry of disappointing U.S. economic data suggested the ongoing trade war was starting to take its toll, stoking concerns of a possible recession.

The Dow fell 0.9% last week while the S&P 500 slid 0.3%.

However, that weak data also raised hope for easier monetary policy from the Federal Reserve. Market expectations for a rate cut later this month were around 80%

Overseas, in Japan, the Nikkei 225 shrank 0.2% Monday, while in Hong Kong, markets were shuttered for holiday.

Oil prices gained 70 cents to $53.51 U.S. a barrel.

Gold prices slipped $8.90 to $1,504.00 U.S. an ounce.



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