Stock futures were pointing to losses on Thursday, with investors still trying to make sense of the U.S.-China trade war after Treasury Secretary Scott Bessent signaled that Washington and Beijing were yet to start negotiations on tariffs.

Treasury Secretary Scott Bessent said on Wednesday that he expects a de-escalation in the ongoing tensions between the U.S. and China, following President Donald Trump's imposition of retaliatory tariffs of 245% on imports of Chinese goods into the country.