Fed minutes, G-20 summit and US-China trade in focus

Saul Loeb | AFP | Getty Images

Jerome Powell listens as US President Donald Trump announces Powell as nominee for Chairman of the Federal Reserve in the Rose Garden of the White House in Washington, DC, November 2, 2017.

In other Fed-related news, New York Fed President John Williams will speak at a panel on the future of the global economy at around 9 a.m. ET.

Investors are also monitoring the upcoming G-20 summit in Buenos Aires. Focus has particularly centered on trade, with President Donald Trump and Chinese leader Xi Jinping set to attend a dinner at the meeting of world leaders.

White House trade advisor Peter Navarro will also be in attendance at the dinner, CNBC reported Thursday, news that shook sentiment in equities due to the economist’s harsh stance on trade relations with China. Navarro clashed with one of Trump’s other advisors, Larry Kudlow, earlier this month after he said a potential trade deal with China would be on President Trump’s terms, not Wall Street’s.

On the data front, Chicago PMI (purchasing managers’ index) and U.S. PMI manufacturing index figures are set to be published at 9:45 a.m. ET.