US pre-open: Stocks seen lower as Sino-US relations remain in focus
US stocks looked set for a weaker open on Monday as investors continued to eye Sino-US trade relations.
At 1215 GMT, Dow Jones Industrial Average, S&P 500 and Nasdaq futures were all down 0.4%.
Relations between the US and China were in focus again as President Trump said on Friday that he may not impose further tariffs on Chinese goods. However, over the weekend, US Vice President Mike Pence said at the Asia Pacific summit that there would be no end to US charges on $250bn of Chinese goods unless China changes its ways.
Joshua Mahony, market analyst at IG, said US-China relations "remain just as icy as ever, despite recent hopes of an impending trade deal between the two sides".
"Unfortunately, there are precious few signs of a shift in tone from either sides, and with issues such as IP theft remaining a topic that seems to have no solution (due to Chinese rejection that it occurs), some issues seem destined to remain a roadblock to future progress," he said.
In corporate news, Resolute Energy looked set to rally at the open after it agreed to be bought by Cimarex Energy for $1.6bn.
Elsewhere, Spectrum Brands could be active after the consumer products company's fourth-quarter earnings and sales missed analysts' expectations.
Colfax was likely to be in focus as it agreed to buy orthopaedic device marker DJO Global Inc from Blackstone for $3.2bn in cash.
Apple could be in the spotlight following a report that the tech giant has slashed production orders for all three of its new iPhones following weaker-than-expected demand for the devices. According to the Wall Street Journal, Apple has had a hard time predicting the number of components and handsets it will need of late following its decision to offer more models.
On the data front, the NAHB housing market index for November is at 1500 GMT.