Live Market News

Stock futures are lower to start shortened trading week: Live updates


Latest Market News
1 of 268

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on January 11, 2024 in New York City.

Angela Weiss | Afp | Getty Images

Stock futures are lower Monday night as Wall Street awaits further data and bank earnings that will provide a better glimpse into the state of the American consumer.

Futures tied to the Dow Jones Industrial Average lost 50 points, or 0.1%. S&P 500 futures dipped more than 0.1%, while Nasdaq 100 futures shed 0.2%.

Investors are looking ahead to December retail sales data out Wednesday, which could fuel recessionary fears and concerns about economic growth if U.S. consumer spending sees a cooldown. Economists polled by FactSet anticipate an increase of 0.2% for the month, slightly under the 0.3% increase in November.

Another batch of bank earnings will be out during this holiday-shortened week, providing further clues about consumer health and data on credit card payments and delinquencies. Goldman Sachs, Morgan Stanley and PNC Financial Services are set to report on Tuesday. Charles Schwab and M&T Bank, as well as several regional banks, are also slated to release their earnings this week.

Four big banks—including JPMorgan, Citigroup and Wells Fargo—reported mixed results on Friday, but posted strong profits for the year amid a strong labor market, resilient consumer and high interest rates.

Stocks are coming from a series of weekly gains, notching their 10th winning week in 11 weeks despite a hotter-than-expected December consumer inflation report. The negative producer price index print had further convinced investors that the Federal Reserve’s rate-cutting campaign could begin soon.

Last week, tech stocks led the market higher as the Nasdaq outperformed, adding about 3.1% through Friday’s close. The Dow gained roughly 0.3%, while the S&P 500 advanced 1.8%.



Read More: Stock futures are lower to start shortened trading week: Live updates

Leave a comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.