Investing.com – U.S. Futures pointed to a flat opening bell on Friday, as a potential trade war weighed on investors minds.
The S&P 500 futures rose a point and a half or 0.05% to 2,756.75 as of 6:43 AM ET (10:43 GMT) while Dow futures decreased 17 points or 0.07% to 24,907.0. Meanwhile tech heavy Nasdaq 100 futures was down two points or 0.03% to 7,08.25.
U.S. President Donald Trump has decided to fire national security adviser H.R. McMaster, according to the Washington Post. It’s the latest in a string of White House fires and resignations. Last week former economic adviser Gary Cohn was removed after speaking out against Trump’s tariffs on steel and aluminum.
Worry over a potential trade war also continues to dwell on investors. A Trump imposed import tariff on steel and aluminum has left traders on edge, although Canada and Mexico are exempt as the administration seeks to negotiate a trade deal. More tariffs could increase fears of a global trade war and weigh on investor appetite for riskier assets.
Qualcomm (NASDAQ:QCOM) was among the biggest gainers in pre-market trading, rising 4.36% after news that Paul Jacobs, former chairman of the firm, is seeking funding for a buyout. Software company Adobe Systems Incorporated (NASDAQ:ADBE) jumped 4.86% after a stronger than expected first quarter, while semiconductor Micron Technology Inc (NASDAQ:MU) increased 2.40%
Elsewhere Overstockcom Inc (NASDAQ:OSTK) slumped 12.55% after reporting a 13% drop in fourth quarter revenue and Chinese e-commerce giant Alibaba (NYSE:BABA) was down 0.65%.
Investors are looking ahead to a flurry of data reports later in the day. Housing starts and building permits are released at 8:30 AM ET (12:30 GMT) while Michigan consumer sentiment and Job Openings and Labor Turnover Survey (JOLTS) come out at 10:00 AM ET (14:00 GMT).
In Europe stocks were up. Germany’s DAX rose 58 points or 0.48% while in France the CAC 40 increased two points or 0.04% and in London, the FTSE 100 was up seven points or 0.10%. Meanwhile the pan-European Euro Stoxx 50 gained six points or 0.19% while Spain’s IBEX 35 was flat.
In commodities, gold futures were up 0.17% to $1,320.00 a troy ounce while crude oil futures rose 0.28% to $61.36 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, inched down 0.19% to 89.97.