U.S. stocks: Futures up ahead of retail sales data LONDON (MarketWatch) — U.S. stock futures swung higher Wednesday before the release of monthly retail sales data and remarks by two Federal Reserve officials.
Investors will also get a look at quarterly results from retailer Macy’s Inc. and heavy equipment maker Deere &. Co.
Futures for the Dow Jones Industrial Average (CBE:DJU4) climbed 60 points, or 0.4%, to 16,579, while those for the S&P 500 index (GLC:SPU4) rose 9 points, or 0.4%, to 1,939. The Nasdaq 100 index (GLC:NDU4) gained 16.75 points, or 0.4%, to 3,920.25.
Wall Street futures found some support from anticipation of recovery in China in the final quarter of the year, said João Monteiro of Valutrades in a note, “despite the fact that the geopolitical situation remains tense and there’s still the prospect of a dangerous stand-off at the Ukrainian border when [an] aid convoy arrives from Moscow.”
Investors will assess retail-sales data when they are released at 8.30 a.m. Eastern. Analysts polled by MarketWatch expect growth of 0.2% in overall sales in July, aided by large retail chains. Sales rose 0.2% in June. Excluding autos, sales likely rose 0.4%.
Also set for monitoring will be remarks by New York Federal Reserve President William Dudley and Boston Fed President Eric Rosengren at a conference on wholesale funding in New York. They were slated to begin speaking at 9:05 a.m. Eastern and 9:25 a.m., respectively. Rosengren is considered one of the central bank’s most dovish members.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.