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US STOCKS-Futures dip on reports U.S. to target another Chinese firm


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* Futures off: Dow 0.19%, S&P 0.24%, Nasdaq 0.40%

By Shreyashi Sanyal

This followed Washington's decision to temporarily easecurbs on Huawei TechnologiesHWT.UL , which on Tuesday offereda reprieve for investors who feared a hit to the globaltechnology sector after the Trump administration added theChinese telecoms equipment maker to a trade blacklist last week.

However, sentiment soured on reports of the U.S.administration considering Huawei-like restrictions on Chinesevideo surveillance firm Hikvision. urn:newsml:reuters.com:*:nL2N22Y01P

The back-and-forth between the United States and China havekept investors on edge, knocking the benchmark S&P 500 index .SPX 3% off its all-time high on May 1.

Markets also waited for minutes from the Federal Reserve'stwo-day policy meeting in late April when it held interest ratessteady. The minutes are due at 2 p.m. ET (1800 GMT).

Fed's St. Louis chief James Bullard, a voter in therate-setting committee this year, said on Wednesday furtherweakness in inflation could prompt the central bank to cutrates, even if economic growth maintains its momentum. urn:newsml:reuters.com:*:nL4N22Y1GV

At 7:17 a.m. ET, Dow e-minis 1YMc1 were down 49 points, or0.19%. S&P 500 e-minis ESc1 were down 7 points, or 0.24% andNasdaq 100 e-minis NQc1 were down 30 points, or 0.4%.

Lowe's Cos IncLOW.N fell 8.2% premarket after the homeimprovement chain slashed its full-year profit forecast, a dayafter disappointing earnings from department store operatorsincluding Kohl's CorpKSS.N and J.C. Penney Co IncJCP.N . urn:newsml:reuters.com:*:nL4N22Y2R4

Nordstrom IncJWN.N plunged 11% in premarket trading afterthe department store operator cut its forecast for full-yearsales and profit. urn:newsml:reuters.com:*:nL4N22X48Z

But retailer Target CorpTGT.N jumped 7.7% after itsquarterly same-store sales and profit beat Wall Streetestimates. urn:newsml:reuters.com:*:nL4N22Y2V1

Among others, Qualcomm IncQCOM.O fell 9.8% after afederal judge ruled that the chipmaker unlawfully suppressedcompetition in the market for cellphone chips and used itsdominant position to exact excessive licensing fees. urn:newsml:reuters.com:*:nL4N22Y2Q8 (Reporting by Shreyashi Sanyal and Sruthi Shankar in Bengaluru;Editing by Sriraj Kalluvila) ((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780 ;Reuters Messaging:Shreyashi.Sanyal.thomsonreuters.com@reuters.net))






This article appears in: Stocks , World Markets , Politics



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