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S&P futures tread water as Sino-U.S. tensions weigh

Added 05-28-20 07:03:02am EST - “Futures contracts for the S&P 500 were largely flat on Thursday as investors weighed hopes of an economic recovery against underlying tensions between the United States and China.” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “S&P futures tread water as Sino-U.S. tensions weigh”. Below is an excerpt from the article.

(Reuters) - Futures contracts for the S&P 500 were largely flat on Thursday as investors weighed hopes of an economic recovery against underlying tensions between the United States and China.

Chipmakers, which are sensitive to China’s growth, were under pressure, with Intel Corp and Advanced Micro Devices Inc dropping about 1% each in premarket trade.

President Donald Trump has promised action over China’s new national security legislation for Hong Kong by the end of the week.

Analysts have warned the souring relations between the world’s two largest economies in recent weeks over trade and the handling of the coronavirus outbreak pose the biggest threat to the stock market’s strong rally off the March lows.

The benchmark S&P 500 hit a near three-month high on Wednesday, closing above the key psychological level of 3,000 amid growing evidence of a pick up in business activity.

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