Market focus is largely attuned to global trade developments

Posted on November 21, 2019

Futures on the S&P and Nasdaq were both seen marginally lower.

U.S. legislation on Hong Kong threatened to derail trade discussions between the world’s two largest economies.

On Wednesday, the U.S. House of Representatives passed two bills intended to support protestors in Hong Kong. It prompted Beijing to accuse the U.S. of interfering in domestic affairs.

Latest weekly jobless claims and Philadelphia Fed manufacturing figures for November will be released at around 8:30 a.m. ET. Existing home sales for October will follow slightly later in the session.

Market participants are likely to closely monitor speeches from policymakers at the U.S. central bank on Thursday. Cleveland Fed President Loretta Mester and Minneapolis Fed President Neel Kashkari are both expected to comment on the world’s largest economy.

In corporate news, Macy’s, Berry Global and BJ’s Wholesale will report earnings before the opening bell.