S&P Futures up, record highs, interest rate cuts hinted, key data and earnings awaited.

From Nasdaq: 2024-07-16 07:37:32

Futures for September S&P 500 E-Mini are up +0.12% as traders await U.S. retail sales data. Wall Street closed higher with S&P 500 and Dow hitting record highs. Trump Media (DJT) soared +31% after a foiled assassination attempt. Apple (AAPL) and Goldman Sachs (GS) rose, while Macy’s (M) tumbled -11% after ending buyout talks. Powell signals potential interest rate cuts amid economic confidence and balance in labor market. U.S. retail sales data and earnings reports from UnitedHealth (UNH), Bank of America (BAC), Morgan Stanley (MS), PNC Financial (PNC), and JB Hunt Transport (JBHT) in focus. Italy’s inflation rate remains steady, but German investor sentiment worsens. Fed Governor Adriana Kugler set to speak. Pre-market movers include Match Group (MTCH) up +8% and Kyverna Therapeutics (KYTX) up +7%. Shopify (SHOP) and EPAM Systems (EPAM) also see gains. China’s Shanghai Composite and Japan’s Nikkei 225 close higher. Concerns over China’s growth, potential tariffs, and market reforms remain.Cleanup: Asia markets close in the green, U.S. futures point to uptrend. Powell hints at rate cuts, key data and earnings reports in focus. Italy’s inflation steady, while German sentiment weakens. Pre-market movers include Match Group (MTCH) and Kyverna Therapeutics (KYTX). China and Japan close higher, concerns over growth and reforms linger.



Read more at Nasdaq: S&P Futures Tick Higher Ahead of Key U.S. Retail Sales Data and More Big Bank Earnings