HG MARKETS:

U.S. stock futures slipped slightly on Monday as investor attention turned toward renewed trade negotiations between the United States and China, as well as several key economic data releases due later this week. Meanwhile, Apple Inc. (NASDAQ: AAPL) is set to headline its annual developers conference, and China’s latest trade figures highlight a sharp deceleration in export growth.

Dow Jones Industrial Average futures were down 46 points, or 0.1%, while S&P 500 futures dropped by 6 points, or 0.1%. Nasdaq 100 futures fell 39 points, or 0.2%.

This cautious start to the trading week follows a strong performance on Wall Street Friday, where equities closed higher, buoyed by a robust May jobs report and the announcement of renewed U.S.-China trade discussions set to take place in London. Tesla Inc. (NASDAQ: TSLA) also rebounded from a recent slump linked to public disputes involving CEO Elon Musk and President Donald Trump. Notably, the S&P 500 ended the session above the 6,000 mark for the first time since February.

Markets are closely watching high-stakes talks between U.S. and Chinese officials, set to take place at an undisclosed location in London. The meetings aim to ease tensions that have escalated over issues such as tariffs and export controls, despite a preliminary agreement last month in Geneva that temporarily halted some punitive measures.

Last week, President Trump and Chinese President Xi Jinping held a one-hour phone call focused primarily on trade. While Trump described the discussion as “very positive,” Chinese state media reported that Xi urged the U.S. to ease aggressive trade policies and refrain from actions seen as supporting Taiwan. Washington’s proposed “reciprocal tariffs” on Chinese goods remain on hold until at least August 12, providing a temporary window for potential diplomatic progress.

Investors are also keeping a close eye on Apple’s annual Worldwide Developers Conference (WWDC), which kicks off Monday with the company’s traditional keynote address. The event is expected to reveal upcoming software updates, potentially including a new naming convention for Apple’s operating systems, shifting to a year-based format.

According to Bloomberg, iOS 26 may feature significant design updates. However, few specifics have been confirmed, particularly regarding the anticipated upgrades to Apple’s AI-driven “Apple Intelligence” platform. The long-expected enhancement to Siri, which was initially slated for mid-2025, appears unlikely to be unveiled this week, as Apple recently cited delays in development. Investor sentiment around Apple has been under pressure, in part due to its slower progress in the AI space. Shares in the tech giant are down over 16% year-to-date.

China’s export activity lost momentum in May, reflecting the ongoing impact of U.S. tariffs and weakening global demand. Official customs data showed exports to the U.S. declined 34.5% year-on-year—the steepest drop since the early days of the COVID-19 pandemic.

Overall, Chinese exports rose 4.8% year-on-year in May, missing forecasts of 5% and marking a slowdown from the 8.1% growth recorded in April. Meanwhile, imports plunged 3.4%, far exceeding expectations for a 0.9% decline, indicating sluggish domestic demand amid broader economic uncertainty. The weaker trade data underscores the challenges facing the world’s second-largest economy as it navigates external headwinds and a fragile domestic recovery.