U.S. stock futures continue drift lower ahead of retail sales report

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U.S. stock futures continue drift lower ahead of retail sales report
US stock futures continue drift lower ahead of retail sales
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U.S. stock futures edged lower Tuesday, ahead of data expected to show the U.S. consumer still spending at stores despite rising prices.What’s happening
Futures on the Dow Jones Industrial Average
YM00
fell 20 points, or 0.1%, to 35989

Futures on the S&P 500
ES00
eased 5 points, or 0.1%, to 4674

Futures on the Nasdaq 100
NQ00
slipped 22 points, or 0.1%, to 16166

On Monday, the Dow Jones Industrial Average
DJIA,
the S&P 500
SPX
and Nasdaq Composite
COMP
each ended fractionally lower. The Russell 2000
RUT
index saw a steeper loss of 0.5%.

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What’s driving markets With bond yields at three-week highs, inflation worries were back at the forefront. “Uncertainty about the persistence of higher inflation continues to dog investor sentiment amid ongoing speculation about the timing of interest rate hikes by the world’s major central banks. A stronger-than-expected jump in the New York Fed’s manufacturing gauge on Monday was the latest data point to highlight long-lasting supply disruptions and rising costs, giving Treasury yields a nudge up,” said Raffi Boyadjian, lead investment analyst at XM. There’s a busy slate of economic data, including on retail sales and industrial production, for Tuesday. Earnings from the country’s top retailers also are due. Home Depot
HD
reported stronger-than-forecast earnings as Walmart
WMT
is set to release results. Home Depot rival Lowe’s
LOW,
and discounter Target
TGT,
are set to report results on Wednesday.



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