U.S. futures pointed to a modestly lower open for Wall Street as Chevron’s earnings warnings added to investors’ uncertainty on corporate health.
In the mornings economic news, the May trade deficit narrowed unexpectedly to $26 billion from a revised deficit of $28.6. Economist had expected the May deficit to widen to $30 billion. Meanwhile, import prices rose 3.2% while export prices rose 1.1%.
The University of Michigan releases its initial reading on consumer sentiment at 9:55 am ET. The index is expected to have dipped to70 from 70.8 in June.
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