Stock futures slide as China dashes hopes of trade negotiations

Momentum from a two-day relief rally in the stock market slowed considerably on Thursday, with mixed signals about tariff negotiations tempering investor's optimism.

Before trading kicked off, both the Dow Jones Industrial Average futures and S&P 500 futures were down, 194 points, or 0.5%, and 10 points and 0.2%, respectively, signaling a weaker start to the day on Wall Street. The tech-heavy Nasdaq Composite futures, on the other hand, were up 2.5%. 

"Stocks are sliding so far this morning after China threw cold water on hopes of a trade détente w/the U.S. while investors shrugged at reports of some auto tariff exemptions in the U.S.," Adam Crisafulli, head of Vital Knowledge, said in a report.