Dow futures dip; Retail sales and bank earnings in focus By Investing.com
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© Reuters.
Investing.com – US stock futures pointed to a lower start on Monday night as Wall Street anticipates upcoming data and bank earnings, which could shed light on the current state of the American consumer.
By 8:15 pm ET (1:15 am GMT) , , and dipped 0.3%, 0.4% and 0.5% respectively.
Investors are awaiting the release of retail sales data for December on Wednesday. This report could intensify fears of a recession and concerns over economic growth if there’s a slowdown in US consumer spending. According to economists surveyed by FactSet, an increase of 0.2% is expected for the month, slightly lower than the 0.3% rise seen in November.
This holiday-shortened week will also see the release of another set of bank earnings, offering additional insights into consumer health and information on credit card payments and delinquencies. Goldman Sachs (NYSE:), Morgan Stanley (NYSE:), and PNC Financial (NYSE:) Services are scheduled to report on Tuesday. Charles Schwab (NYSE:) and M&T Bank, along with several regional banks, are also expected to release their earnings this week.
Stay up to date this earnings season with InvestingPro+! Use discount code “INVPRODEAL” and receive an additional 10% off the InvestingPro+ bi-yearly subscription. Click here! and don’t forget the discount code.
On Friday, four major banks, including JPMorgan Chase & Co (NYSE:), Citigroup Inc (NYSE:) and Wells Fargo & Company (NYSE:) reported mixed results. However, they recorded strong profits for the year, supported by a robust labor market, resilient consumer spending, and high interest rates.
Despite a hotter-than-expected December consumer inflation report, stocks have been riding a wave of weekly gains, securing their 10th winning week in the last 11 weeks. The release of a negative producer price index further solidified investors’ belief that the Federal Reserve could soon commence its rate-cutting campaign.
Last week, technology stocks led the market rally, with the outperforming and adding approximately 3.1% through Friday’s close. The saw a modest gain of about 0.3%, while the advanced 1.8%.
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© Reuters.
Investing.com – US stock futures pointed to a lower start on Monday night as Wall Street anticipates upcoming data and bank earnings, which could shed light on the current state of the American consumer.
By 8:15 pm ET (1:15 am GMT) , , and dipped 0.3%, 0.4% and 0.5% respectively.
Investors are awaiting the release of retail sales data for December on Wednesday. This report could intensify fears of a recession and concerns over economic growth if there’s a slowdown in US consumer spending. According to economists surveyed by FactSet, an increase of 0.2% is expected for the month, slightly lower than the 0.3% rise seen in November.
This holiday-shortened week will also see the release of another set of bank earnings, offering additional insights into consumer health and information on credit card payments and delinquencies. Goldman Sachs (NYSE:), Morgan Stanley (NYSE:), and PNC Financial (NYSE:) Services are scheduled to report on Tuesday. Charles Schwab (NYSE:) and M&T Bank, along with several regional banks, are also expected to release their earnings this week.
Stay up to date this earnings season with InvestingPro+! Use discount code “INVPRODEAL” and receive an additional 10% off the InvestingPro+ bi-yearly subscription. Click here! and don’t forget the discount code.
On Friday, four major banks, including JPMorgan Chase & Co (NYSE:), Citigroup Inc (NYSE:) and Wells Fargo & Company (NYSE:) reported mixed results. However, they recorded strong profits for the year, supported by a robust labor market, resilient consumer spending, and high interest rates.
Despite a hotter-than-expected December consumer inflation report, stocks have been riding a wave of weekly gains, securing their 10th winning week in the last 11 weeks. The release of a negative producer price index further solidified investors’ belief that the Federal Reserve could soon commence its rate-cutting campaign.
Last week, technology stocks led the market rally, with the outperforming and adding approximately 3.1% through Friday’s close. The saw a modest gain of about 0.3%, while the advanced 1.8%.
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