A man walks a dog in the shade away from the midday sun past the New York Stock Exchange (NYSE) building in Manhattan, during hot weather in New York, New York, USA, August 11, 2020.
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Stock futures rose slightly in overnight trading on Thursday as investors expect the latest data on retail sales.
Dow Jones Industrial Average futures earned about 70 points. The futures of the S&P 500 and Nasdaq 1
Retail sales data, due to be released on Friday at 8:30 a.m. ET, will offer an update on consumer reimbursement. Economists surveyed by Dow Jones expect retail sales to grow by 0.7% in September, after a 0.6% rebound in August. With the exception of cars, sales are expected to grow by 0.4%.
The main averages suffered their third consecutive day of losses on Thursday, their longest series of losses in nearly a month.
The Dow and S&P 500 closed their lows on Thursday, however, aided by strength in cyclical stocks, including financial and real estate names.
“Value / cyclical stocks have regained some of their recent power shortages in energy, cars, transport, insignificant retail sales and finance. Adam Chrysafouli, founder of Vital Knowledge, said in a note Thursday.
The weakness of the shares this week came amid uncertainty over further stimulation of the coronavirus, as well as fears of a worsening pandemic around the world.
Lawmakers in Washington continued to send mixed signals of progress toward an agreement on incentives. Treasury Secretary Stephen Mnuchin said Thursday that the White House will not allow differences on funding targets for Covid-19, testing talks to stimulate derailment with top Democrats.
President Donald Trump later said he would raise his bid for a stimulus package above his current $ 1.8 trillion level. Democrats in parliament passed a $ 2.2 trillion bill.
Meanwhile, the rise in new coronavirus cases in Europe has also hampered investors. The UK government has announced plans to impose stricter coronavirus restrictions on London, while the French government declared a state of emergency for public health earlier this week amid rising cases. Germany has also announced new rules to limit the spread of the virus.
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