US pre-open: Futures edge lower as Chinese data disappoints

The Dow Jones Industrial Average is expected to open approximately down 64 points, while the S&P 500 and the Nasdaq are set to begin the session nine and 23 points lower respectively.

Chinese data disappoints

Asian stocks were largely in the red on Tuesday, after Chinese trade data pointed to a decline in global and domestic demand.

The Shanghai Composite Index lost 0.57%, while Hong Kong’s Hang Seng rose 0.17% after figures showed overseas sales of Chinese goods continued to recover in September but import volumes missed economists' forecasts.

“Equity markets are lower after disappointing Chinese imports readings highlighted the economic slowdown in the country,” said IG’s market analyst David Madden.

“Natural resource stocks were the worst hit by the Chinese trade figures, and as imports have declined for eleven consecutive months it paints a very clear picture that the second largest economy in the world isn’t as hungry for commodities as it once was.”

In company news, US-listed shares of Anheuser-Busch InBev NV and SABMiller could be in focus after SABMiller’s board agreed on the key terms of a sweetened potential takeover offer worth £68bn.

Healthcare group Johnson & Johnson is set to report quarterly earnings before the bell, while Intel, CSX and JP Morgan Chase & Co are on tap after the close.

Elsewhere, European stocks were mostly in the red, while oil prices edged lower, as West Texas Intermediate lost 0.36% to $46.93 a barrel, while Brent shed 0.08% to $49.82 a barrel.

The dollar advanced 0.60% against the pound, although it fell 0.27% and 0.23% against the yen and the euro respectively, while gold futures slid 0.75% to $1,155.15.

The economic calendar has little on offer on Tuesday, with St Louis Federal Reserve president James Bullard scheduled to speak in Washington at 1300 BST.