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
    YM00,
    + 0.01%

    down 20 points, or 0.1%, to 35989

  • Futures on S&P 500
    ES00,
    -0.10%

    down 5 points, or 0.1%, to 4674

  • Nasdaq 100 futures contract
    NQ00,
    -0.17%

    down 22 points, or 0.1%, to 16166

On Monday, the Dow Jones Industrial Average
DJIA,
-0.04%
,
S&P 500
SPX,
-0.00%

and Nasdaq Composite
COMP,
-0.04%

each end a fraction lower. Russell 2000
RUT,
-0.45%

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
HD,
-0.42%

reported better-than-expected earnings as Walmart
WMT,
-0.58%

is set to release results. Lowe’s rival Home Depot
SHORT,
-0.59%
,
and Discounter Target
TGT,
+ 1.66%
,
is set to report results on Wednesday.

https://www.marketwatch.com/story/u-s-stock-futures-continue-drift-lower-ahead-of-retail-sales-report-11637060925?rss=1&siteid=rss | US stock futures continue to fall ahead of retail sales report

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