Investing.com – U.S. futures were flat on Wednesday, as U.S. President Donald Trump and European Commission President Jean-Claude Juncker meet to discuss trade.
The S&P 500 futures fell four points or 0.14% to 2,817.0 as of 7:04 AM ET ( 11:04 GMT) while Dow futures decreased 20 points or 0.08% to 25,194.0. Meanwhile tech heavy Nasdaq 100 futures was down half a point or 0.01% to 7,415.50.
Trade tensions continue, as Trump and Juncker are expected to meet at the White House at 1:30 PM ET (19:30 GMT) on Wednesday to discuss tariffs.
The U.S. imposed steep tariffs on steel and aluminum imports form the EU and has threatened to extend tariffs to the auto sector. The EU has prepared retaliatory action if the car tariffs are imposed.
Trump tweeted on Tuesday that the U.S. and EU should “drop all tariffs, barriers and subsidies.”
In earnings news, Boeing (NYSE:BA) and UPS report their second-quarter results before the morning bell. After the closing bell, Facebook (NASDAQ:FB), Ford Motor Company (NYSE:F), Qualcomm (NASDAQ:QCOM) and others are expected to report their financial earnings.
General Motors Company (NYSE:GM) was down 3.75% in pre-market trading after its revenue missed estimates. General Electric (NYSE:GE) fell 0.76% while Cisco Systems Inc (NASDAQ:CSCO) dipped 0.21% and Netflix (NASDAQ:NFLX) decreased 0.65%.
Elsewhere Perrigo Co (NYSE:PRGO) rose 0.42% while Chinese e-commerce firm Jd.Com Inc Adr (NASDAQ:JD) increased 0.59%. Coca-Cola Company (NYSE:KO) rose 1.30% after its earnings came in better than expected.
In economic news, new home sales data comes out at 10:00 AM ET (14:00 GMT).
In Europe stocks were down. Germany’s DAX fell 28 points or 0.23% while in France the CAC 40 inched up half a point or 0.01% and in London, the FTSE 100 was down 49 points or 0.65%. Meanwhile the pan-European Euro Stoxx 50 lost 11 points or 0.34% while Spain’s IBEX 35 slumped 36 points or 0.37%.
In commodities, gold futures rose 0.40% to $1,230.40 a troy ounce while crude oil futures decreased 0.16% to $68.41 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was down 0.14% to 94.26.