U.S. stock-index futures seesaw after weaker-than-expected retail-sales report
Stock-index futures traded on either side of unchanged Friday after July retail sales showed a weaker-than-expected rise.
The Dow on Thursday DJIA, -0.28% fell 80.12 points, or 0.3%, to end at 27,896.72, while the S&P 500 SPX, -0.20% lost 6.92 points, or 0.2%, to close at 3,373.43, after hitting an intraday peak at 3,387.24, temporarily trading above its Feb. 19 closing record of 3,386.15. The Nasdaq Composite COMP, +0.27% rose 30.27 points, or 0.3%, higher to close at 11,042.50. The major indexes remain on track for weekly gains.
“In other words this was a great number -- [U.S. dollar]-positive! Or at least ‘risk-on’ positive -- stocks should gain,” he said, in a note. For investors “to increase their risk exposures again, US Democrats and Republicans may have to agree over a new fiscal package, and U.S. and Chinese officials may need to provide encouraging remarks over their nations’ trade relationship,” said Charalambos Pissouros, senior market analyst at JFD Group, in a note.
Which companies are in focus? How are other markets trading? In Asia overnight Friday, China’s CSI 300 index 000300, +1.48% closed 1.5% higher, while Hong Kong’s Hang Seng Index HSI, -0.18% slipped 0.2% and Japan’s Nikkei 225 NIK, +0.17% gained 0.2%.
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