The US and China agree to a transaction that lowers tariff levels
The US and China agreed to a trade agreement after face-to-face meetings with senior economic officials.
US stock futures refer to lower opens, with corporate news focusing on.
According to the Wall Street Journal, the UnitedHealth Group is under the Department of Justice criminal investigation due to the possible criminal Medicare fraud related to the Medicare Advantage business. Foot Locker also reports that WSJ is close to a deal where Dick’s sporting goods buys for around $24 per share, or $2.3 billion.
Retailer Walmart is planning to report results from the first three months of the year before the opening bell. With the huge footprint and leverage to negotiate prices with suppliers, people are keen to hear how companies in Bentonville, Arkansas deal with tariffs and economic uncertainty.
At 6:30am on ET, futures linked to the Blue Chip Dow fell by -0.33%, while widespread S&P 500 futures fell by -0.50%. And the high-tech Nasdaq futures slipped -0.68%. On Wednesday, the Broad S&P 500 did not register a third consecutive win as investors remained bright about China-US deals announced on Monday.
On Thursday, before the opening bell, investors will see the producer price index (PPI) for April. PPI measures wholesale inflation, or priced companies pay for goods or services. The economists voted by Dow Jones expect the April PPI to rise by 0.3% from the previous month. They also estimate that core readings excluding food and energy prices rose 0.3% over the period.
Corporate News
- Cisco Systems’ third quarter results outperform analyst estimates.
- CoreWeave, an artificial intelligence infrastructure company, put its top sales estimates in the first three months of the year, but still lost money.
Medora Lee is a money, market and personal finance reporter for USA Today. mjlee@usatoday.com and Subscribe to our free daily money newsletter Personal finance tips and business news every Monday to Friday.
