Stocks set for flat start in front of senior-level trade talks
S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -12.90. Wall Street is headed for a flat start after a volatile, trade-driven pre-market session. The S&P 500 futures trade four points, or 0.1%, below fair value.Conflicting trade headlines have been hitting the news wires, with one from the South China Morning Post causing the S&P 500 futures to drop as much as 1.1% below fair value overnight. The report indicated there was little progress made during deputy-level talks. It remains uncertain if some Chinese officials will leave senior-level talks early after today. In hard data, weekly jobless claims (210,000) continued to indicate a tightening labor market, and total CPI for September was unchanged (Briefing.com consensus +0.1%).Outsized pre-market moves belong to PG&E (PCG 7.80, -3.18, -29.0%) and Bed Bath and Beyond (BBBY 11.80, +1.86, +18.7%). A bankruptcy judge ruled alternatives to PG&E's Chapter 11 restructuring plan can be brought forward. Bed Bath & Beyond snagged a Target (TGT 109.50, -0.86, -0.8%) executive, Mark Tritton, as its new CEO.