Dow Jones futures steady ahead of US Retail Sales data
Dow Jones futures remain subdued around 53,910 during European hours on Friday. Meanwhile, S&P 500 futures move little, hovering around 7,820, and Nasdaq 100 futures inch lower by 0.09%, trading near 30,160.
Dow Jones futures maintained a stable position around 53,910 ahead of the US Retail Sales data. The S&P 500 and Nasdaq 100 futures exhibited minimal movement, trading near 7,820 and 30,160 respectively. Traders were cautious as they anticipated the release of the July Retail Sales data. Inflation metrics had altered the Federal Reserve's monetary policy outlook, with the probability of a rate hike at the September meeting falling to 32.4% from 40.6%.
This shift in expectations was influenced by soft wholesale inflation data, which showed US producer prices for goods and services were flat in July. Core PPI rose slightly below expectations, while headline PPI increased by 4.7% year-over-year. The Dow Jones Industrial Average, composed of 30 major US stocks, remained on track for a weekly decline despite a previous gain. Traders monitored the US Retail Sales data closely for clues about future interest rate decisions.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 4 other outlets
- Canadian Dollar surges as sharp US Retail Sales miss hits the Dollar fxstreet.com
- Retail sales slump in July. Cheaper gas and Amazon Prime hangover are the chief culprits. marketwatch.com
- Retail sales fall 0.6% as consumers see inflation eroding buying power cfodive.com
- Midday Need to Know: Retail sales drop, Ackman shakes up portfolio & more seekingalpha.com
