US STOCKS-Futures muted after Wall Street's worst day in about two weeks

Published 23/09/2019, 12:36
Updated 23/09/2019, 12:40
© Reuters.  US STOCKS-Futures muted after Wall Street's worst day in about two weeks

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* Futures: Dow off 0.04%, S&P flat, Nasdaq up 0.19%

By Medha Singh

Sept 23 (Reuters) - U.S. stock index futures treaded water

on Monday, as investors remained cautious about progress in

U.S.-China trade talks and waited for a slew of economic reports

to gauge the health of the domestic economy.

The indexes recorded their worst session in about two weeks

on Friday - ending a three-week run of gains - after a Chinese

agriculture delegation canceled a visit to Montana, dampening

optimism about the trade talks. Stock markets had been buoyed earlier in the week by the

Federal Reserve's decision to cut interest rates for the second

time in 2019, joining other central banks around the world in

easing monetary policy.

After the U.S. central bank's fairly upbeat assessment of

the domestic economy, investors will monitor a host of economic

data in the final week of the quarter, including core personal

consumption data - the Fed's preferred inflation measure - and

growth figures for the second quarter.

Data from IHS Markit on Monday is expected to show U.S.

manufacturing Purchasing Managers' Index (PMI) holding steady at

50.3 in September, while services PMI is forecast to rise to

51.5 from 50.7.

The report, due at 9:45 a.m. ET, follows disappointing

business surveys from across the euro zone.

Also on the radar is a speech by Federal Reserve Bank of New

York President John Williams at the 2019 U.S. Treasury Market

Conference at 9:50 a.m. ET (1350 GMT).

At 7:15 a.m. ET, Dow e-minis 1YMcv1 were down 12 points,

or 0.04%. S&P 500 e-minis EScv1 were up 1.75 points, or 0.06%

and Nasdaq 100 e-minis NQcv1 were up 15.25 points, or 0.19%.

Apple AAPL.O edged 0.3% higher in premarket trading after

U.S. trade regulators approved 10 out of 15 requests for tariff

exemptions filed by the iPhone maker amid a broader reprieve on

levies on computer parts. Apple supplier Micron MU.O , which manufactures computer

memory drives, rose nearly 0.5%.

Boeing .BA.N dropped 0.7% after a Reuters report that

European antitrust regulators were set to investigate the plane

maker's $4.75 billion bid for the commercial aircraft arm of

Brazil-based Embraer SA EMBR3.SA . Additionally, the chief of the U.S. Federal Aviation

Administration is set to detail progress on the Boeing 737 MAX

aircraft to international air regulators, who are divided about

returning the grounded jet to flight after two fatal crashes.

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