US stock futures were little changed on Thursday, striving to mount a further rebound as investors digested disappointing retail sales, raising further questions about a “soft landing” scenario for the US economy.
The S&P 500 (^GSPC) gained 0.2%, coming off a solid recovery that saw the benchmark top the 5,000 mark again. The Dow Jones Industrial Average (^DJI) rose 0.5% while the tech-heavy Nasdaq 100 (^NDX) lost 0.2%.
Stocks have recouped some of the steep losses booked Tuesday after a hot inflation print dented hopes for interest rate cuts. Comments from Federal Reserve policymakers playing down the data helped soothe nerves.
But investors are still wondering whether the rout was a one-off, with some seasonal weakness playing a part, or the start of a bigger pullback. Many Wall Street strategists have pointed out that there were signs of resilience even as stocks tumbled.
Read more: What the Fed rate decision means for bank accounts, CDs, loans, and credit cards
On Thursday investors turned their focus on January retail sales which fell 0.8% from the prior month, raising question on consumer resilience and the chance of a “no landing” scenario for the US.
Wall Street will also listen out for remarks from Fed officials Christopher Waller and Raphael Bostic later in the day, with the latter speaking after the bell.
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Jessica Roberts is a seasoned business writer who deciphers the intricacies of the corporate world. With a focus on finance and entrepreneurship, she provides readers with valuable insights into market trends, startup innovations, and economic developments.
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