US stock futures little changed as investors await US-China trade talk news
US stock futures little changed as investors await US-China trade talk news
Show Caption
Hide Caption
How fentanyl reaches the US and the role of Trump's China tariffs
US President Donald Trump has imposed new tariffs on Chinese goods, citing Beijing's failure to stop the export of chemicals used to produce fentanyl.
unbranded - Newsworthy
U.S. stock futures are little changed as investors continue to wait for news from U.S.-China trade talks in London.
Talks are expected to continue for a second day.
Earlier, Kevin Hassett, director of the National Economic Council, said he expected an agreement to emerge that would loosen controls on U.S. exports of semiconductors in exchange for China's releasing of more rare earths.
The London talks follow a phone call between President Donald Trump and Chinese leader Xi Jinping, the first between the two since Trump took office and after Trump accused China of violating terms of a tariff pause agreed upon in Switzerland last month.
At 6:45 a.m. ET, futures on the blue-chip Dow dropped -0.06%, while broad S&P 500 futures added 0.06% and tech-laden Nasdaq futures rose 0.09%.
Later this week, investors will see May inflation data. The May reports will reflect the first full month of price changes since Trump announced aggressive tariffs on April 2. Since then, many of the highest tariffs have been put on ice but others have gone into effect.
Corporate news
Cracker Barrel Old Country Store said it plans to sell $275 million in convertible senior notes due in 2030 in a private offering.
Limoneira said its fiscal second quarter results were worse than in the year-ago period.
Cryptocurrency
Paraguay President Santiago Pena's X account had likely been hacked to say that the Latin American country had made Bitcoin legal tender and that it would roll out a $5 million Bitcoin-backed reserve fund.
The post was deleted and the government said "the president's official X account has presented irregular activity which suggests possible unauthorized entry."
Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@usatoday.com and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News24
10 minutes ago
- News24
Pork and chicken are key to easing US trade tensions: Steenhuisen
South Africa, struggling to reset relations with the US, is willing to give way on so-called phytosanitary requirements for poultry-meat imports, but fears an impasse with its second-biggest trading partner over pork shipments. Washington's trade complaints against Pretoria — which have triggered a threat of a 30% tariff on imports from Africa's largest economy — span a range of industries from vehicles to citrus. The meat trade has also been a sticking point, with US producers viewing Pretoria's animal-health requirements as a constraint on doing business, according to Agriculture Minister John Steenhuisen. The health rules and excise duty charged on pork and chicken from the US 'are the two key focus areas' in easing trade tensions, he said in an interview at a meat conference in Somerset West near Cape Town on Thursday. Differences between the two nations extend beyond trade — President Donald Trump has spread the false conspiracy theory that white farmers have been subjected to a genocide in South Africa and the authorities have been seizing their land. There have been no official land seizures in South Africa since apartheid ended in 1994. The US has also criticized South Africa for taking Israel to an international court over its war with Hamas in Gaza and its relations with American foes, including Iran. To assuage concerns over its restrictions on poultry imports from countries that have avian influenza outbreaks, South Africa plans to allow the US to determine when it should halt and resume exports. 'What we've done is build a new system of self-ban, self-lift,' Steenhuisen said. 'We hope that this will be seen as a removal of what they've regarded as a trade barrier.' The minister considered it unlikely the two countries will resolve their difference over South Africa's requirements that glands be removed from pork meat prior to it being sold in the country — a measure intended to avoid the spread of the highly contagious porcine reproductive and respiratory syndrome disease. 'They regard that as a trade barrier because they say that that process renders their meat uncompetitive,' Steenhuisen said. 'It's going to be one of those impasses because we cannot compromise our local pork sector.' South Africa is one of a handful of nations that are free of the disease, and if it were detected it would increase pork production costs as pigs would have to be vaccinated against it, said Peter Evans, the chief executive officer of the South African Pork Producers' Organisation. 'It's a disease we want to keep out of the country,' he said in an interview. The US is 'irked by it. They perceive it as a hindrance to large-scale exports.' The US also complains that tariffs of about 62% on poultry imports, along with the health requirements, have stopped it from filling its annual quotas of about 70,000 tons of chicken meat that it is permitted to ship into South Africa, according to the agriculture minister. That levy, along with those imposed on cars and farm equipment, are higher than those charged on products from the European Union, with which South Africa has a trade agreement. The US has, until recently, given a range of South African goods duty-free to its markets under the African Growth and Opportunity Act (AGOA). 'Their argument is that we are giving you AGOA and all of these things, but you are giving our competitors a better deal,' Steenhuisen said.
Yahoo
33 minutes ago
- Yahoo
Why Snap Stock Was a Winner on Wednesday
The company formally introduced its latest product. This is Specs, the new iteration of its smart glasses line. 10 stocks we like better than Snap › Social media company Snap (NYSE: SNAP) saw its share price creep higher on Hump Day, thanks mainly to the announcement of a new product. The company will face some stiff competition, however, so the market's bullishness was guarded; the stock only rose by 1.2% on the news. That was good enough to beat the S&P 500 (SNPINDEX: ^GSPC), though, as that indicator fell by 0.3% on the day. Toward the end of Tuesday's trading session, Snap announced that it is launching a new line of tech-enhanced eyeglasses called Specs. In the announcement, made at this year's annual Augmented World Expo, the company said the rollout would occur next year. It did not get more specific. It did promise several attractive features of the upcoming augmented reality (AR) products, including artificial intelligence (AI) assistance, social connectivity, and a virtual workstation in case users feel like being productive and not playful. In its official press release touting the eyewear, Snap co-founder and CEO Evan Spiegel said, "We believe the time is right for a revolution in computing that naturally integrates our digital experiences with the physical world." "We couldn't be more excited about the extraordinary progress in artificial intelligence and augmented reality that is enabling new, human-centered computing experiences," he added. Specs is the continuation of the company's digitally enhanced glasses product line, Spectacles. It introduced the first Spectacles in 2016. There's a big mountain to climb here, though, and that belongs to Meta Platforms (NASDAQ: META). Nearly two years ago, Snap's social media rival introduced its Ray-Ban Meta smart glasses, with the product earning generally positive reviews, especially for its feature set. Snap will have to keep on its toes to carve out meaningful share in this still-limited market. Before you buy stock in Snap, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Snap wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $649,102!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $882,344!* Now, it's worth noting Stock Advisor's total average return is 996% — a market-crushing outperformance compared to 174% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms. The Motley Fool has a disclosure policy. Why Snap Stock Was a Winner on Wednesday was originally published by The Motley Fool Sign in to access your portfolio
CNBC
35 minutes ago
- CNBC
Education Department wanted Treasury to help manage student loans
The U.S. Department of Education planned for the Treasury Department to take a hand in managing the country's $1.6 trillion student loan portfolio, recent court documents show. "The Department had been negotiating a memorandum of understanding with the Treasury Department regarding student loan management," Rachel Oglesby, the chief of staff at the Education Dept., said in a court declaration filed late on Tuesday. The agreement involved moving nine Education Dept. employees from the agency's Federal Student Aid Default Collections Unit to Treasury "to discuss collections activities," a spokesperson for the Education Department told CNBC. Education Department plans with the Treasury Department are now on hold after U.S. District Judge Myong Joun in Boston blocked the Trump administration on May 22 from its efforts to dismantle the Education Department. Joun ordered the department to rehire the more than 1,300 employees affected by mass layoffs in March, and blocked the department from transferring student loans to the Small Business Administration. More from Personal Finance:Trump's 'big beautiful' bill could curb low-income tax creditWhat a 'revenge tax' in Trump's spending bill means for investorsWhat's happening with unemployed Americans — in 5 charts Experts say the Treasury talks are more evidence that the Trump administration hopes to reduce the role of the Education Department. President Donald Trump said on March 21 that the Small Business Administration, instead of the Education Department, would handle the country's debt. "They're all set for it," the president said of the SBA, speaking to reporters in the Oval Office. "They're waiting for it." At the time of Trump's announcement that student loans would move to the SBA, experts had said the next most logical agency would have been Treasury, since it already plays a role in collecting past-due debts from Americans through the Treasury Offset Program. Still, financial aid expert Mark Kantrowitz pointed out that The Higher Education Act of 1965 is "very clear" that the Education Department's Federal Student Aid office is "responsible for student loans." "It will require an act of Congress," Kantrowitz said, to move the loans to either the SBA or Treasury. Consumer advocates express worries that the mass transfer of accounts to another agency could trigger errors, or compromise borrowers' privacy. They also raised concerns about how a change in agency might affect unique student loan protections, and programs such as Public Service Loan Forgiveness. More than 42 million Americans hold federal student loans.
