US STOCKS-Futures flat with focus on tariff deadline, Fed decision

Published 11/12/2019, 14:15
Updated 11/12/2019, 14:18
© Reuters.  US STOCKS-Futures flat with focus on tariff deadline, Fed decision

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* Futures: Dow off 0.12%, S&P 500 flat, Nasdaq up 0.09%

By Arjun Panchadar

Dec 11 (Reuters) - U.S. stock index futures pointed to a

flat opening on Wednesday, with eyes fixed on the latest outcome

of the Federal Reserve's deliberations on interest rates and the

looming deadline on tariffs in President Donald Trump's trade

war with China.

Stocks have stalled so far in December after three straight

months of gains, hurt by worries over a delay in the signing of

an interim trade deal between Washington and Beijing as well as

global growth concerns.

President Donald Trump has just days to decide whether to

impose levies on nearly $160 billion in Chinese goods.

The White House's top economic and trade advisers are

expected to meet in coming days with Trump over the decision, a

source told Reuters, though a final decision has not been made.

The Fed is widely expected to keep interest rates steady in

its last policy statement of the year, due at 2:00 p.m. ET (1900

GMT). Investors are also awaiting Fed Chair Jerome Powell's

outlook on the economy when he holds a news conference later in

the day.

Also slated for this week is the European Central Bank

meeting on Thursday, along with general elections in Britain.

Data on Wednesday at 8:30 a.m. ET is expected to show the

Labor Department's consumer price index (CPI) rose 0.2% in

November, compared with a 0.4% gain a month earlier, according

to economists polled by Reuters.

Other upcoming domestic indicators of interest this week

include monthly inflation data and retail sales.

At 7:31 a.m. ET, Dow e-minis 1YMcv1 were down 34 points,

or 0.12%. S&P 500 e-minis EScv1 were up 0.25 points, or 0.01%

and Nasdaq 100 e-minis NQcv1 were up 7.5 points, or 0.09%.

Among stocks, Home Depot Inc HD.N fell 1% in premarket

trading after the home improvement chain forecast fiscal 2020

sales growth below Wall Street expectations, weeks after the

company cut its 2019 sales forecast. Tesla Inc TSLA.O gained 1.2% as the electric carmaker plans

to increase prices of imported Model 3 vehicles in China in

January, according to sources familiar with the matter.

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