At 7:20 a.m. ET, Dow e-minis <1YMc1> were down 64 points, or
0.26 percent. S&P 500 e-minis <ESc1> were down 3.25 points, or
0.12 percent and Nasdaq 100 e-minis <NQc1> were down 3 points,
or 0.04 percent.
China could strike at members of the Dow Jones Industrial
Average <.DJI> if U.S. President Donald Trump keeps exacerbating
tensions over trade, state-controlled Chinese tabloid The Global
Times said in a commentary.
The 30-member Dow includes Caterpillar <CAT.N> and Boeing <BA.N>,
which are reliant on China for sizeable revenue, and are in the
midst of a seven-session losing streak following the recent
escalation in trade rhetoric.
The Dow 30 components showed no big moves in early premarket
trading, with Boeing and Caterpillar slightly higher in light
volumes.
A wave of worry hit the global auto industry after Germany's
Daimler <DAIGn.DE> cut its 2018 profit forecast and BMW <BMWG.DE>
said it was looking at "strategic options" because of the China-U.S.
trade spat.
Share of Ford <F.N> fell 0.8 percent, while General Motors <GM.N>
declined 2.7 percent in premarket trading.
Adding pressure was a drop in oil prices as the OPEC appeared to
be nearing a deal to increase production.
The so-called FAANG stocks were higher, set to continue their
record run, and could lend support to the market, as they did on
Wednesday.
The five stocks – Facebook <FB.O>, Amazon <AMZN.O>, Apple <AAPL.O>,
Netflix <NFLX.O> and Alphabet <GOOGL.O> – were up between 0.1
percent and 1 percent premarket.
Micron <MU.O> jumped 4.8 percent after strong demand for its
memory chips drove its results and forecast above analysts'
expectations.
Data at 8:30 a.m. ET is expected to show that initial claims for
state unemployment benefits last week rose to 220,000 from
218,000 the week before.
(Reporting by Medha Singh in Bengaluru; Editing by Sriraj
Kalluvila)
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