U.S. Futures Flat Amid Worry Over Slowing Chinese Economy By Investing.com


© Reuters.

Investing.com – U.S. futures pointed to a subdued opening bell despite a strong January as fears of a slowdown in China increased investor caution ahead of earnings from Google parent company Alphabet (NASDAQ:).

Stocks posted their best January in nearly 30 years as the market recovered from December’s steep sell-off despite news of an economic slowdown in China impacting Apple (NASDAQ:) sales and other technology companies.

Still, China’s slow down, caused in part by U.S. trade tariffs, could impact Wall Street’s bottom line as trade giants like Apple rely on China for production and sales.

The were flat as of 6:40 AM ET (11:40 GMT) while lost 1 points or 0.01%. Meanwhile tech heavy was flat.

On the earnings front, Clorox Co (NYSE:), Sysco (NYSE:), Gilead Sciences (NASDAQ:), Seagate Technology (NASDAQ:) and Overstock.com (NASDAQ:) are expected to report results, along with Alphabet, which reports after the close.

Bristol-Myers Squibb Company (NYSE:) was among the top gainers in premarket trading, jumped 4.2%, while Weatherford International PLC (NYSE:) gained 5.9% and General Electric (NYSE:) rose 0.88%.

Meanwhile Celgene (NASDAQ:) slumped 4.9% while Harmony Gold Mining Company Limited (NYSE:) was down 4.4% and Procter & Gamble Company (NYSE:) inched down 0.06%.

Investors are also looking ahead to figures for November at 10:00 AM (15:00 GMT).

In commodities, slipped 0.53% to $1,315.05 a troy ounce, while decreased 0.02% to $55.25 a barrel. The , which measures the greenback against a basket of six major currencies, was up 0.16% to 95.453.

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