Portfolio Wealth Advisors CIO Lee Munson on the impact of U.S.-China trade tensions and Federal Reserve policy on the markets.videoInvestors concerned over a potentially weak China trade deal?

Portfolio Wealth Advisors CIO Lee Munson on the impact of U.S.-China trade tensions and Federal Reserve policy on the markets.

U.S. equity futures were pointing to a lower open on Wednesday, giving up their overnight gains.

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Investors who worry the U.S.-Chinese tariff war will drag the global economy into recession were left guessing after President Trump's conflicting comments on trade talks.

Wednesday's selling comes after stocks fell during the previous session as the yield curve inverted further, causing investors to shift money from stocks to gold and other traditional safe-haven assets.

Shares of BP traded higher Wednesday morning after the company announced a sale of its Alaskan assets to Hilcorp Energy for $5.6 billion.

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Markets rose after Trump said Monday Beijing was ready to seriously negotiate following two phone calls that happened this weekend. But a Chinese Foreign Ministry spokesman couldn't confirm any exchange had taken place. U.S. and Chinese trade negotiators are due to meet next month in Washington, but neither side has given any indication of offering concessions to break a deadlock. A round of talks last month in Shanghai ended with no sign of progress.

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European markets traded mixed, with France's CAC off by 0.4 percent as investors worried about increased recession fears. In Asia, Japan's Nikkei gained 0.1 percent gain and China's Shanghai retreated by 0.3 percent.

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https://www.foxbusiness.com/markets/us-stocks-aug-28-2019

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