(For a Reuters live blog on U.S., UK and European stock
markets, click or type LIVE/ in a news window.)
*
Futures off: Dow 0.10%, S&P 500 0.16%, Nasdaq 0.28%
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Dollar General ( DG ) forecasts downbeat FY comparable sales
growth
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Intel ( INTC ) gains after naming chip industry veteran Lip-Bu Tan
CEO
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Adobe falls after dull quarterly revenue forecast
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Feb's PPI data due at 08:30 a.m. E.T
(Updates with analyst comment)
By Johann M Cherian and Pranav Kashyap
March 13 (Reuters) -
U.S. stock index futures wavered on Thursday as investors
grew anxious over a potential partial government shutdown and
the heightened uncertainty stemming from President Donald
Trump's erratic tariff policies.
The markets, already on edge, were also roiled as the
deadline to pass a government
funding bill
in the U.S. Senate approached. If it goes through, the bill
will keep the U.S. government operational through September 30.
The Republican-led House passed the bill earlier in the
week, but Senate Democrats are pushing for a short-term
extension to allow for more comprehensive budget negotiations.
"The potential government shutdown... clearly adds to
this cocktail of corrosive policy uncertainty," said Ben
Laidler, head of equity strategy at Bradesco BBI.
"It's on top of everything else and is potentially the
straw that breaks the camel's back here."
Markets were hit hard earlier this week by Trump's
aggressive trade restrictions, sparking fears that a multi-front
trade war could ramp up domestic inflation and potentially stall
economic growth.
In his latest tariff threat, the U.S. president said he
would impose additional penalties on European Union imports if
the EU enacted retaliatory tariffs on U.S. goods next month.
Trump's fluctuating policies have rattled investors.
Brokerages have downgraded their outlooks for U.S. equities and
multiple companies have issued downbeat forecasts.
Dollar General ( DG ) forecast annual comparable sales
growth
largely below estimates
. Its shares were last up 5.5% in choppy premarket trading.
American Eagle Outfitters ( AEO ) forecast annual
revenue below expectations, sending the apparel maker's shares
down 9.5%.
At 07:16 a.m. ET, Dow E-minis were down 42
points, or 0.10%, S&P 500 E-minis were down 9 points, or
0.16%, and Nasdaq 100 E-minis were down 55 points, or
0.28%.
Although a slight cooling in consumer inflation offered
a temporary breather on Wednesday, it was insufficient to offset
Wall Street's heavy losses this week.
As the benchmark S&P 500 index teeters on the brink of
its longest weekly losing streak in seven months, the focus is
now on the February Producer Price Index data, which is
scheduled to be released at 8:30 a.m. ET.
The core figure, including some components that feed
into the U.S. Federal Reserve's preferred Personal Consumption
Expenditure index, is expected to have increased 3.5% in
February, compared with a 3.6% rise in the prior month.
A weekly jobless claims report is also on tap later in
the day.
Investors expect the central bank to leave policy rates
unchanged when it meets next week, according to data compiled by
LSEG.
Among other stocks, Intel ( INTC ) jumped 11.9% after the
beleaguered chipmaker appointed industry veteran Lip-Bu Tan its
chief executive officer.
Adobe dropped 4.9% after the Photoshop-maker
forecast quarterly revenue in line with estimates.
SentinelOne ( S ) lost 13.2% after the cybersecurity company
forecast its first-quarter and annual revenue below Street
estimates.
Shares of truck- and parts-makers such as Paccar ( PCAR )
and Cummins fell 5% and 2.2%, respectively, after the
Environmental Protection Agency launched efforts to undo the
previous administration's vehicle-emissions rules.