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 at a closed-door JPMorgan investor summit that he expects trade tensions with China to de-escalate, according to people in the room Tuesday for his remarks. Bessent told attendees that although negotiations haven't started,

U.S. Treasury Secretary Scott Bessent told a closed-door investor summit on Tuesday that he expects the tariff showdown with China will de-escalate as the situation is unsustainable, according to a media report.