Markets

Correction: US Futures in Red Territory as Trade Tensions Escalate

(An earlier version of the story incorrectly reported that Teva's Q2 results topped expectations. The company reported sales that missed the Street estimate with better-than-expected adjusted earnings.)

US stock futures were in red territory on Thursday amid fresh concerns on the trade dispute between the US and China following signals from the Trump administration that it is considering to more than double its proposed tariffs on Chinese imports.

Oil prices nudged lower with global benchmark Brent Crude down 0.50% and US crude West Texas Intermediate down 0.87% recently after official data released on Wednesday showed an unexpected build in US crude stockpiles while additional pressure also came from data which showed a sequential increase in Russian oil output for July.

At 8:30 am, data are expected to show new unemployment claims rising 1,000 to 218,000 for the July 28 week, according to data compiled by Econoday.

At 10 am, factory orders are seen rising 0.9% for June vs prior gain of 0.4%.

In equities, ADRs of Teva Pharmaceuticals ( TEVA ) were 8.9% lower pre-bell after the drug maker reported better-than-expected Q2 adjusted earnings, while sales missed expectations.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

TEVA

Other Topics

Stocks