Adviser Investments CIO Jim Lowell argues that economic data shows U.S. consumers are in ‘fine shape’ ahead of the August retail sales report.
U.S. stock futures slipped Thursday morning ahead of unemployment and retail sales data.
Dow Jones Industrial Average futures lost three points, or 0.01%, while S&P 500 futures and Nasdaq 100 futures declined 013% and 0.15%, respectively.
Retail sales are due out at 8:30 a.m. ET with analysts surveyed by Refinitiv expecting a 0.7% month-over-month decline after a 1.1% drop in July. A separate report on weekly jobless claims will also be released.
In stocks, Cisco Systems Inc. said it would introduce new financial metrics to highlight the company’s shift to software.
Cigarette maker Philip Morris International Inc. won support of Vectura shareholders, securing its 1.1 billion British pound takeover of the asthma inhaler maker. The deal was opposed by health care professionals.
Electronic Arts Inc. pushed back the debut of its highly anticipated Battlefield 2041 one month to Nov. 19. The video game maker also reiterated its net bookings guidance for the current fiscal year.
Ryanair Holdings plc raised its five-year passenger forecast and said it would not need to order Boeing 737 max jets. Talks between the Irish low-cost carrier and Boeing broke down last week due to differences over price.
Wynn Resorts Ltd., Las Vegas Sands Corp. and MGM Resorts International were lower for a third day after Macau said it would tighten regulations on the casino industry.
Coty Inc. announced the relaunch of Kylie Cosmetics, the cosmetics company founded by Kylie Jenner.
In commodities, West Texas Intermediate crude oil slid 19 cents to $72.42 a barrel and gold lost $15.10 to $1779.70 an ounce.
Overseas markets were mixed.
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European bourses were higher across the board with Britain’s FTSE 100 gaining 0.49%, Germany’s DAX 30 advancing 0.6% and France’s CAC 40 surging 1.15%.
In Asia, Hong Kong’s Hang Seng index plunged 1.46% and China’s Shanghai Composite index tumbled 1.34% after Beijing said embattled real estate developer Evergrande will not make any interest payments beginning next week. Elsewhere in the region, Japan’s Nikkei 225 sank 0.62%.
