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Stock futures slipped slightly early Friday morning as traders braced for an upcoming news conference on U.S.-China relations from President Donald Trump.
Futures for Dow Jones Industrials headed lower 114 points, or 0.5%, early Friday, to 25,343.
Futures for the S&P 500 sank 7.75 points, or 0.3%, to 3,030.25.
Futures for the NASDAQ Composite gained 17.75 points, or 0.2%, to 9,478.
The Dow and S&P 500 are up more than 2.7% each, week to date, while the NASDAQ has advanced 0.5%.
Trump said Thursday afternoon he would hold the news conference, knocking stocks down from solid gains. That announcement came after China approved a national security bill for Hong Kong that experts warn could endanger the city’s “one party, two systems” principle.
That principle allows for additional freedoms which mainland China residents don’t have.
Tensions between China and the U.S. have risen lately as Trump criticizes the Chinese government’s response to the coronavirus outbreak. U.S. lawmakers have also been critical of China increasing its stronghold over Hong Kong.
Futures also fell after Salesforce issued disappointing guidance for the second quarter. The company expects earnings ranging between 66 cents a share and 67 cents a share. Analysts expected earnings guidance of 74 cents per share. Salesforce shares dropped 4%.
Overseas, in Tokyo, the Nikkei 225 faltered 0.2%, Friday, while in Hong Kong, the Hang Sang index weakened 0.7%.
Oil prices nudged lower 70 cents to $33.01 U.S. a barrel.
Gold prices triumphed $15.30 to $1,743.60.
