{"id":37557,"date":"2023-07-19T03:37:51","date_gmt":"2023-07-19T07:37:51","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/dow-futures-steady-bank-earnings-retail-sales-in-focus\/"},"modified":"2023-07-19T03:37:52","modified_gmt":"2023-07-19T07:37:52","slug":"dow-futures-steady-bank-earnings-retail-sales-in-focus","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=37557","title":{"rendered":"Dow futures steady; bank earnings, retail sales in focus"},"content":{"rendered":"
\n
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\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

Investing.com — U.S. stock futures traded largely unchanged Tuesday, pausing for breath after more gains during the prior session ahead of a deluge of fresh corporate earnings.<\/p>\n

By 06:30 ET (10:30 GMT), the contract was up 2 points or 0.1%, while traded 3 points or 0.1%, lower and dropped 25 points or 0.1%.<\/p>\n

The benchmark indices on Wall Street closed higher Monday, continuing the previous week\u2019s positive tone as expectations rise that the Federal Reserve can engineer a soft landing for the U.S. economy, controlling without causing the economy to fall into recession.<\/p>\n

The blue-chip gained 76 points or 0.2%, to notch its highest close of the year. The broad-based rose 0.4% and the tech-heavy jumped 0.9%.<\/p>\n

Goldman cuts odds of U.S. recession<\/strong><\/h2>\n

Goldman Sachs (NYSE:) has revised down the odds of a U.S. recession happening in the next 12 months, cutting the probability down to 20% from 25%, according to a report released Monday.<\/p>\n

\u201cThe main reason for our cut is that the recent data have reinforced our confidence that bringing inflation down to an acceptable level will not require a recession,\u201d Goldman said.<\/p>\n

Retail sales, industrial production data due<\/strong><\/h2>\n

There is more economic data to study Tuesday after a stronger-than-anticipated reading from the Federal Reserve Bank of New York’s on Monday hinted at resilient business activity.<\/p>\n

The U.S. reading for June is expected to have improved from the prior month, while growth is also expected to accelerate in June.<\/p>\n

Banks remain in the spotlight<\/strong><\/h2>\n

However, most attention Tuesday will be on corporate earnings, with results from banking giants Bank of America (NYSE:) and Morgan Stanley <\/span><\/span> (NYSE:) likely to be studied for clues about business and consumer spending trends.<\/p>\n

Peers (NYSE:) and (NYSE:) were helped by higher rates, when they published their results on Friday, while {{0|}
\n}’s (NYSE:) profit tumbled by over a third following a dearth of dealmaking.<\/p>\n

Toymaker Hasbro (NASDAQ:), transportation company JB Hunt (NASDAQ:), and defense giant Lockheed Martin <\/span><\/span> (NYSE:) are also on deck, with rising geopolitical tensions set to boost results at the last in the list.<\/p>\n

Crude market awaits U.S. inventories<\/strong><\/h2>\n

Crude prices edged higher Tuesday, with the focus turning from China’s weakness towards a possible tightening of U.S. crude supplies.<\/p>\n

Investors were now awaiting more signals from weekly U.S. inventory data, due from the , later in the session, and then the on Wednesday. The data is expected to show a decline in stockpiles after a substantially bigger-than-expected build in the prior week.<\/p>\n

However, Monday\u2019s disappointing Chinese growth numbers mean sentiment remains weak, with traders looking for more stimulus measures from Beijing, as the government moves to shore up economic growth.<\/p>\n

By 06:30 ET, the futures traded 0.4% higher at $74.39 a barrel, while the contract climbed 0.4% to $78.80.<\/p>\n

Additionally, rose 0.6% to $1,967.35\/oz, while traded 0.2% higher at 1.1252.<\/p>\n

(Oliver Gray contributed to this item.)<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Investing.com — U.S. stock futures traded largely unchanged Tuesday, pausing for breath after more gains during the prior session ahead of a deluge of fresh corporate earnings. By 06:30 ET (10:30 GMT), the contract was up 2 points or 0.1%, while traded 3 points or 0.1%, lower and dropped 25 points or 0.1%. […]<\/p>\n","protected":false},"author":1,"featured_media":13008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-37557","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nDow futures steady; bank earnings, retail sales in focus | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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