US pre-open: Stocks seen lower amid trade concerns; Apple takes a hit

US stocks looked poised for a downbeat open on Tuesday as investors digested the latest headlines on Sino-US relations, with Apple set to drop after Donald Trump hinted that he could impose tariffs on iPhones and laptops imported from China.

At 1230 GMT, Dow Jones Industrial Average and S&P 500 futures were down 0.3%, while Nasdaq futures were 0.6% lower.

Trade relations between China and the US were in focus again after Trump renewed his China tariff threats ahead of the G20 meeting at the end of the week, though China's foreign ministry spokesman told reporters that on a phone call earlier this month Trump and president Xi Jinping had agreed to reach a "mutually beneficial" arrangement on trade.

Reports of Trump and Xi's agreement initially sparked a flurry of buying, pushing US stock futures up around 1% in a matter of minutes. However, the move was erased when it became clear that the comments were referring to a telephone call at the start of the month.

Spreadex analyst Connor Campbell said: "It is looking like the weekend’s G20 meeting is going to be a bust - though there is every chance the President’s aggressive rhetoric could all be intimidation tactics ahead of the trip to Argentina."

On the corporate front, tech giant Apple was under the cosh in pre-market trade after Trump said in a Wall Street Journal interview that he could impose a 10% tariff on iPhones and laptops imported from China.

CMC Markets analyst Michael Hewson said: "Any negative effects are likely to be overstated given that the firm was able to absorb the impact of lifting the ceiling price on its most expensive iPhone model by much more than that with its recent upgrades."

Elsewhere, United Technologies rose in pre-market trade after announcing late on Monday that it plans to separate into three independent companies.

On the data front, S&P/Case-Shiller house prices are at 1400 GMT.