Here are five things you must know for Thursday, Nov. 14:
1. — Stock Futures Slip on Snag in U.S.-China Trade Negotiations
China’s Commerce Ministry said Thursday that the cancellation of U.S. tariffs was a significant condition for a “phase one” trade agreement, casting doubt on the level of progress in talks between Washington and Beijing. The remarks followed a speech from Donald Trump on Tuesday in which he raised the specter of fresh levies on China-made goods if the two sides were unable to reach a broad agreement on trade.
Reports Wednesday also noted China’s reluctance to commit to an exact monetary amount of agricultural purchases it would make from the U.S. The president has said China has agreed to buy up to $50 billion in U.S. soybeans, pork and other agricultural products annually.
Contracts tied to the Dow Jones Industrial Average fell 27 points, futures for the S&P 500 were down 3.60 points, and Nasdaq futures declined 10.25 points.
The Dow and S&P 500 scored record closing highs Wednesday as Walt Disney (DIS – Get Report) shares jumped on a surge in subscriptions for its new Disney+ streaming surge and helped to offset the possible snag in trade negotiations between the U.S. and China.
2. — Walmart and Nvidia Report Earnings Thursday
Walmart (WMT – Get Report) earned an adjusted $1.16 a share in the third quarter, beating estimates of $1.09. The giant retailer also raised its outlook. The stock gained 3% to $124.60 in premarket trading.
The economic calendar in the U.S. Thursday includes the Producer Price Index for October at 8:30 a.m. ET, weekly Jobless Claims at 8:30 a.m., and Oil Inventories for…