Stocks - U.S. Futures Flat as Washington, Beijing Said to Make Trade Progress

Stocks - U.S. Futures Flat as Washington, Beijing Said to Make Trade Progress  | Nov 26, 2019 11:58

Stocks - U.S. Futures Flat as Washington, Beijing Said to Make Trade Progress - U.S. futures were flat on Tuesday after reports that the U.S. and China made progress towards their “phase one” trade deal, in a shortened holiday week.

The Chinese Ministry of Commerce said in a statement that the two had “reached consensus on properly resolving relevant issues” during a phone call Tuesday morning Beijing time, but did not provide any further details.

Trading is expected to be thin this week due to the Thanksgiving holiday on Thursday.

The Nasdaq 100 inched up 4 points or 0.1% by 6:40 AM ET (11:40 GMT), while Dow futures was flat at 28,051.50 points and S&P 500 futures were at 3,133.38 points.

Uber (NYSE:UBER) inched up 0.4% as the ride-sharing company said it would challenge London’s decision to not renew its license. Kraft Heinz (NASDAQ:KHC) inched up 0.5%, while cloud-computing firm Nutanix (NASDAQ:NTNX) jumped 20% after its fiscal first-quarter earnings beat estimates.

Palo Alto Networks (NYSE:PANW) fell 7.7% after it announced its eighth acquisition in two years, with the merger of Aporteto for $150 million in cash.

On the data front, goods trade balance and retail inventories come out at 8:30 AM ET, while new home sales and consumer confidence figures for November will follow at 10:00 AM ET.

In commodities, gold futures inched up 0.1% to $1,464.55 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, was flat at 98.245. Crude oil futures gained 0.2% to $58.12 a barrel.

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