Nasdaq Composite pares opening gains, turns negative

Nasdaq Composite pares opening gains, turns negative

U.S.stock futures stage turnaround–turn positive–after White House statement on Chinese tech investments

U.S. stock-index futures on Wednesday morning, ridden by tariff-driven jitters, turned positive after the Trump administration said it would rely on the interagency Committee on Foreign Investment in the United States, or CFIUS, to address concerns about foreign purchases of sensitive domestic technologies, reports said Wednesday, citing an administration official. Dow Jones Industrial Average futures were up 43 points, or 0.2%, at 24,346, after showing a decline of as many as 150 points earlier. S&P 500 index futures rose by 0.1% at 2,732, while those for the Nasdaq-100 futures advanced by about 0.1% at 7,107. The news on Beijing’s investment in U.S. tech assets comes amid elevated tensions between China and the U.S., which have helped to rattle equity benchmarks across the globe. Earlier in the week, reports indicated that Trump wanted to curb investments by China in U.S. technology corporations, which heightened concerns that a full-scale trade war between the two largest economies, which could spill over into global economies, was nearing. However, the recent White House statement suggests that the President rejects more-aggressive restrictions on Chinese investments.

Read on Market Watch