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U.S. equities nudged higher on Thursday, supported by upbeat retail sales data and a wave of corporate earnings.
As of 9:35 a.m. ET, the Dow Jones Industrial Average was up 100 points, or 0.2%, while the S&P 500 rose 4 points (0.1%) and the NASDAQ Composite gained 20 points (0.1%).
Investor sentiment remained cautiously optimistic ahead of Netflix’s (NASDAQ: NFLX) second-quarter earnings, due after the close. Analysts at Vital Knowledge expect strong results as the streaming giant continues to expand its market dominance. However, they cautioned that investor expectations may be running too high in the near term.
A solid start to the earnings season has helped lift markets, with major U.S. banks largely exceeding expectations, even as they flagged concerns about the months ahead.
Markets experienced volatility Wednesday following rumors that former President Donald Trump planned to fire Federal Reserve Chair Jerome Powell. Trump later denied those plans but said he would “love” for Powell to resign. Powell, appointed by Trump in 2017, has stated he intends to complete his term, which runs through May 2026.
The Fed Chair has often been a target of Trump’s criticism, particularly for not aggressively cutting rates amid trade tensions. Powell has maintained a cautious policy approach, balancing uncertainty from tariffs and inflationary risks.
June retail sales rose 0.6% month-over-month, reversing a 0.9% decline in May and outperforming economists’ expectations of a modest 0.1% gain, according to the U.S. Commerce Department. The data, which mostly reflects goods purchases and is not adjusted for inflation, signals resilient consumer demand.
Additional economic indicators on Thursday also pointed to moderate strength:
While the Fed signaled two potential rate cuts in its June meeting, New York Fed President John Williams on Wednesday said it was too early to act, citing inflation risks and trade uncertainty.
On the international front, Trump said a trade agreement with India is nearing completion, following a pact signed with Indonesia earlier in the week. Talks with the European Union continue amid tensions over a proposed 30% tariff. The EU has criticized the measure and warned of retaliation, while Trump has maintained an August 1 deadline.
Crude oil prices steadied after three days of declines, supported by robust economic data from major consumers.
At 9:35 a.m. ET:
Positive signals from China’s economic growth and a larger-than-expected U.S. inventory draw helped buoy prices. The Energy Information Administration reported a 3.9 million-barrel drop in U.S. crude inventories last week to 422.2 million barrels, indicating strong refinery demand and tightening supply
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This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
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U.S. equity futures suggest a mostly unchanged open on Friday, signaling that stocks may carry over Thursday’s muted tone as investors await critical inflation figures. Market participants appear hesitant to make bold moves ahead of the release of consumer price data—a key input to the Federal Reserve’s policy decisions—due shortly after the opening bell. The […]
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