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Dow futures remove profits to turn negative after China says it is ready for $ 75 billion counter-tariffs on US goods



Dow Jones Industrial Medium Futures

YMU19, -0.49%

erased healthy early earnings on Friday after a report showed China was ready to take measures to retaliate in its ongoing tariff conflict with the US. A report from the Chinese Ministry indicates that it was preparing to raise tariffs by two batches to $ 75 billion on imports into the United States on September 1 and December 15, which would coincide with the dates on which the US should increase import duties by about $ 300 billion in Beijing. goods. Dow futures fell 1

55 points, or 0.6%, to 26,074, those for the S&P 500 Index

SPX, -0.05%

ESU19, -0.46%

were 0.6% at 2.906, while Nasdaq-100 futures were 0.8% at 7,651. These stock index futures traded higher ahead of the back report of St. Louis Federal President James Bullard, who said that "insurance" was needed to cut rates to fight weak growth outside the US. The market is expecting Jerome Powell's highly anticipated monetary policy speech at Jackson Hole, Wyo. In a statement, China wrote that "US measures have led to a steady escalation of Sino-US economic and trade friction, which has significantly harmed the interests of China, the US and other countries and has also seriously threatened the multilateral trading system and the free trade principle. "


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