S&P 500: Futures in lows even as China says it’s been fulfilling Phase One trade deal commitments

Dhwani Mehta FXStreet

Reuters reports the latest comments from China’s Commerce Ministry on the US-China Phase One trade deal, as both the trade teams meet on Saturday to discuss the implementation of the preliminary agreement.

Key quotes

“Hopes the US stops discriminating Chinese firms.”

“Coronavirus and US restrictions have impacted imports.”

“But it has been fulfilling its commitments in the Phase One trade deal.”

Market reaction

The above comments fail to lift the sentiment around the S&P 500 futures, as the risk-off mood intensifies following a miss on the Chinese Retail Sales and Industrial Production data.

S&P 500 futures drop 0.40% to trade near-daily lows of 3,350.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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