US stock index futures point to slightly lower open

• At around 2:45 a.m. ET, Dow futures dipped 12 points, indicating a negative open of more than 7 points.
• Futures on the S&P and Nasdaq were both slightly lower.
• Late last week, President Donald Trump and Chinese officials announced that the world’s two largest economies had agreed on a so-called “phase one” deal.

US stock index futures were slightly lower Wednesday morning.

At around 2:45 a.m. ET, Dow futures dipped 12 points, indicating a negative open of more than 7 points. Futures on the S&P and Nasdaq were both slightly lower.

On Tuesday, the S&P closed higher for the fifth consecutive session, notching its longest winning streak since November. The Dow and Nasdaq ended with record closing highs in the previous session.

Market focus is largely attuned to global trade developments, as investors await more details about a preliminary trade agreement between the US and China.

Late last week, President Donald Trump and Chinese officials announced that the world’s two largest economies had agreed on a so-called “phase one” deal.

It is understood that Beijing agreed to billions of dollars in agricultural purchases from the US, while Trump said he would not move ahead with a new round of planned tariffs, among other items.

The deal, which is not yet signed, is set to be confirmed in the first week of January, according to US Trade Representative Robert Lighthizer.

Corporate earnings In corporate news, General Mills, Paychex and Toro will report earnings before the opening bell.

Micron Technology, ABM Industries and Herman Miller are among some of the companies set to publish their latest quarterly figures after market close.

No major economic data is scheduled on Wednesday.