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.
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