Home / Business / US STOCKS-Wall St set to open flat ahead of US-North Korea summit

US STOCKS-Wall St set to open flat ahead of US-North Korea summit

* Trump set to meet Kim Jong Un at 9:00 pm ET* Energy shares drop as oil falls about 1 pct* Envision Healthcare jumps after KKR’s $5.57 bln deal* Futures: Dow up 12 pts, S&P off 0.5 pts, Nasdaq down 11.5pts(Changes comment, adds details, updates prices)By Sruthi ShankarJune 11 (Reuters) – U.S. stock futures pointed to a flatopen for Wall Street on Monday, as investors looked past achaotic G7 summit over the weekend and focused on a historicU.S.-North Korea summit.President Donald Trump threw the G7’s efforts to show aunited front into disarray after taking aim at Canadian PrimeMinister Justin Trudeau and announcing that he was backing outof the joint communique.The markets appeared to be calm even as Trudeau spoke ofretaliatory measures that Canada would take next month inresponse to Trump’s decision to slap tariffs on steel andaluminum imports from Canada, Mexico and the European Union."While everyone will have hoped for a better outcome, Idon’t think anyone is surprised given Trump’s views on trade andhis combative approach to the country’s allies on the issue,"Craig Erlam, senior market analyst at OANDA in London, wrote ina note.At 8:47 a.m. ET, Dow e-minis were up 12 points, or0.05 percent. S&P 500 e-minis were down 0.5 points, or0.02 percent and Nasdaq 100 e-minis were down 11.5points, or 0.16 percent.The escalating clash over trade between Washington and someof its closest global partners cast a cloud over Trump’s effortsto make history in nuclear talks in Singapore on Tuesday withKim Jong Un of North Korea, one of America’s bitterest foes.Trump said the summit could "work out very nicely" asofficials from both countries met to narrow differences on howto end a nuclear stand-off on the Korean peninsula.Investors are also bracing for monetary policy changes, withthree of the world’s top central banks – the U.S. FederalReserve, the European Central Bank and the Bank of Japan – setto meet this week.The Fed is almost certain to raise rates again on Wednesday,inching closer to a neutral policy stance, while the ECB islikely to signal on Thursday that its 2.55 trillion euro bondpurchase scheme will end this year, a key move in dismantlingcrisis-era stimulus.Among stocks, insurer Genworth Financial’s shares surged28.3 percent in premarket trading after a U.S. securitypanel approved China Oceanwide Holdings Group’spurchase of the insurer.Shares in Exxon and Chevron fell 0.4 percentand 0.2 percent, respectively, as oil prices fell nearly 1percent on rising Russian production and the highest U.S.drilling activity in more than three years.Envision Healthcare jumped 2.5 percent afterprivate equity firm KKR & Co said it would take thephysician services provider private in a deal valued at $5.57billion.(Reporting by Sruthi Shankar in Bengaluru; Editing by AnilD’Silva)