US stock futures continue to fall ahead of retail sales report

US futures fell on Tuesday, ahead of expected data showing that US consumers are still spending in stores despite rising prices.

What’s going on
  • Futures contracts based on the Dow Jones Industrial Average
    + 0.01%

    down 20 points, or 0.1%, to 35989

  • Futures on S&P 500

    down 5 points, or 0.1%, to 4674

  • Nasdaq 100 futures contract

    down 22 points, or 0.1%, to 16166

On Monday, the Dow Jones Industrial Average
S&P 500

and Nasdaq Composite

each end a fraction lower. Russell 2000

The index saw a sharper drop of more than 0.5%.

What is driving the market?

With bond yields at three-week highs, inflation fears are back at the forefront.

“Uncertainty about the existence of higher inflation continues to weigh on investor sentiment amid speculation about the timing of interest rate hikes by major central banks around the world. Raffi Boyadjian, lead investment analyst at XM, said a stronger-than-expected jump in the New York Fed’s manufacturing gauge on Monday was the latest data point to suggest a supply disruption. supply prolongs and costs rise, helping to increase Treasury yields.”

There’s a bunch of busy economic data, including on retail sales and industrial production, for Tuesday.

Earnings from the country’s top retailers are also due. Home Depot

reported better-than-expected earnings as Walmart

is set to release results. Lowe’s rival Home Depot
and Discounter Target
+ 1.66%
is set to report results on Wednesday. | US stock futures continue to fall ahead of retail sales report


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