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* Futures off: Dow 0.14%, S&P 500 0.17%, Nasdaq 0.26%
By Uday Sampath Kumar
Sept 10 (Reuters) - U.S. stock index futures dipped on
Tuesday as weak economic data from China signaled slowing growth
in the country, rekindling fears of global recession.
China's producer price index fell 0.8% in August, the
sharpest pace of decline in three years, as businesses slashed
prices to cope with flagging demand amid a bruising trade war
with the United States. Shares of U.S. chipmakers, which generate a big chunk of
revenue from China, were under pressure in premarket trading.
Qualcomm Inc QCOM.O , Intel Corp INTC.O and Applied Materials
Inc AMAT.O fell between 0.6% and 1.1%.
The "FAANG" set of stocks were also lower, with Apple Inc
AAPL.O dipping 0.2% ahead of an event where it is widely
expected to unveil its latest iPhones. Details on its new video
streaming service could also move shares of Netflix Inc NFLX.O
and Walt Disney (NYSE:DIS) Co DIS.N .
Declines in technology and healthcare stocks kept Wall
Street subdued on Monday as investors held out for policy
decisions from central banks on potential monetary easing.
The U.S. Federal Reserve is expected to cut interest rates
by a quarter percentage point at its mid-September meeting,
while the European Central Bank is likely to reduce deposit
rates for the first time since 2016 later this week.
Among other stocks, Ford Motor (NYSE:F) Co F.N fell 3.2% after
ratings agency Moody's downgraded its bond rating to junk status
on Monday.
Separately, the U.S. House Judiciary Committee laid out
plans to hold hearings into the Justice Department's decision to
open an antitrust investigation into Ford and three other
automakers. At 6:55 a.m. ET, Dow e-minis 1YMcv1 were down 37 points,
or 0.14%. S&P 500 e-minis EScv1 were down 5 points, or 0.17%
and Nasdaq 100 e-minis NQcv1 were down 20 points, or 0.26%.