U.S. stock index futures were mixed Monday morning investors pause for breath following a record-setting performance on Wall Street last week and monitor Chinese economic data.
Major indexes surged the new highs last week after U.S. Federal Reserve Chairman Jerome Powell indicated during Congressional testimony that an interest rate cut could be on the horizon from the central bank. The Dow closed above 27,000 for the first time on Thursday and Friday's gain brought its increase on the week to 1.5%.
At around 2 a.m. ET, Dow futures were up 31 points but indicated a positive open of around 17 points. The S&P 500 pointed to a slightly higher implied open while the Nasdaq was seen marginally lower. Investors stateside will have an eye on developments in the U.S.-China trade war after Reuters reported on Sunday that the U.S. may approve licenses for companies to restart new sales to Chinese telecommunications giant Huawei within two weeks. The Wall Street Journal reported that Huawei is planning extensive layoffs in the U.S. amid the struggle with its blacklisting.
American big tech received a potential blow over the weekend after a Reuters report indicated that the Democratic-led House Financial Services Committee had circulated a proposal to bar tech giants from functioning as financial services institutions, or issuing digital currencies.
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