Dow Jones Industrial Futures
erased healthy early gains on Friday after a report emerged indicating that China was ready to take remedial action in its lasting customs conflict with the United States. A report from the Chinese Ministry indicated that it was preparing us to raise the two-tier tariff on US $ 75 billion in US imports on September 1 and December 15, which would coincide with the dates the US plans to increase import duties by around $ 300 billion Beijing goods. Dow futures were down 1
was down 0.6% at 2,906, while Nasdaq-100 futures were down 0.8% at 7,651. The stock index futures traded well ahead of the report on the back of comments from St. Louis Federal President James Bullard that said "insurance" interest rates were needed to fight weak growth outside the United States. The market is awaiting a much-awaited speech by Jerome Powell on monetary policy in Jackson Hole, Wyo. In its statement, China wrote that "US measures have led to the continuous escalation of Sino-American economic and trade frictions, which has harmed China's, US interests greatly and other countries, and has also seriously threatened the multilateral trading system and the principle of free trade."