Stock Futures Tick Lower as Retail Earnings Roll In, Powell Speech Ahead
U.S. stock futures edged down Tuesday as investors digested fresh retail earnings and positioned ahead of a key speech from Federal Reserve Chair Jerome Powell later this week.
๐น Market snapshot:
Dow futures: -2 points (flat)
S&P 500 futures: -0.1%
Nasdaq-100 futures: -0.1%
๐น Earnings watch:
Home Depot (HD) shares slipped after weaker-than-expected Q2 earnings, though the retailer reaffirmed full-year guidance.
Reports from Loweโs, Walmart, and Target are due later this week, offering deeper insight into U.S. consumer strength.
๐น Macro focus:
Investors are watching Powellโs appearance at the Jackson Hole Economic Symposium, where global central bankers will gather.
Markets are pricing in an 83% chance of a 25 bps rate cut in September, per CMEโs FedWatch Tool.
Richard Saperstein (Treasury Partners) notes Powell may use the event to โsignal a more accommodative stance through year-endโ โ especially as this marks his last Jackson Hole as Fed Chair.
๐น Market context:
Mondayโs session was muted, with the S&P 500 closing less than 1 point lower, still hovering just under last weekโs record high.
Traders are balancing mixed inflation data, evolving trade policy, and consumer strength signals from earnings.
