Stocks – U.S. Futures Slump as China Doubts Trade Deal Will Happen 

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© Reuters. © Reuters. – Futures fell on Thursday after Bloomberg reported that .

Officials have blamed U.S. President Donald Trump and his impulsive nature and fear that he could back out even as both signs prepare to sign a deal in the coming weeks. The Chinese have warned that they won’t budge on certain issues, Bloomberg reported, quoting people familiar with the matter.

were down 22 points or 0.3% by 6:41 AM ET (10:41 GMT), while fell 90 points or 0.3% and slipped 10 points or 0.4%.

Futures had started in the green after the Federal Reserve cut interest rates by 25 basis points for the third time this year on Wednesday. Chairman Jerome Powell said in a press conference that the central bank will pause on rate cuts for now, unless inflation rises “significantly.”

Starbucks (NASDAQ:) was up 3.3% in premarket trade after the coffee maker said iced coffee and other cold drinks helped boost same-store sales by 5% globally. Facebook (NASDAQ:) jumped 4.7% on continued strong growth in profit and revenue, while Lyft (NASDAQ:) rose 2.5% as it earnings came in better than expected, with the ride-sharing company losing less money than forecast in the last quarter.

Elsewhere, Western Digital (NASDAQ:) slumped 7.5% after its CEO Steve Milligan said he plans to retire.

In commodities, rose 0.7% to $1,507.95 a troy ounce, while the , which measures the greenback against a basket of six major currencies, was down 0.4% to 97.062. were down 0.2% to $54.95 a barrel.

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