Equity futures traded in a tight range in the premarket, a day after stocks retreated following some weak economic data.
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Dow Jones futures were rising by 0.1 percent. The S&P 500 added 0.1 percent and the Nasdaq Composite was up 0.2 percent.
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It will be a busy week for retail earnings starting with Target.
The retailer said Tuesday it booked its best fourth-quarter comparable store sales in a decade, as it beat Wall Street expectations on both profit and sales thanks to strong online sales. The company earned $1.53 per share on sales of $22.98 billion. Target’s full-year 2018 results were also strong, as the company earned $5.39 per share and comparable digital sales surged 36 percent.
Papa John’s International has reached an agreement with ousted founder John Schnatter, who agreed to step down from the company’s board in exchange for helping pick his replacement. Schnatter, who resigned as CEO in December 2017 and then as chairman last year after using a racial slur during a conference call, holds an approximately 31 percent stake in the company.
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| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| TGT | TARGET CORP. | 72.67 | -0.27 | -0.37% |
| PZZA | PAPA JOHNS INTL | 43.39 | +0.07 | +0.16% |
In Asian market trading on Tuesday, China’s Shanghai composite gained 0.9 percent, Hong Kong’s Hang Seng finished unchanged and Japan’s Nikkei fell 0.4 percent.
In Europe, London’s FTSE added 0.4 percent, Germany’s DAX slipped 0.3 percent and France’s CAC also added 0.3 percent.
At the end of the week, the government will release the biggest report of them all, the monthly jobs report on Friday.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 25784.77 | -34.88 | -0.14% |
| SP500 | S&P 500 | 2792.81 | -10.88 | -0.39% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7577.5673 | -17.79 | -0.23% |
U.S. stocks fell Monday after a disappointing report on construction spending.
The Commerce Department said Monday that construction spending decreased 0.6 percent from a month earlier to a seasonally adjusted annual rate of $1.293 trillion. An increase had been expected.
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Stocks rose early in the session on optimism that a trade deal between the U.S. and China is drawing closer. Then equities fell, at one point the Dow Jones Industrial Average was down nearly 400 points. But as the closing bell approached, the market came off session lows.
