Despite an increase in sales at U.S. retailers in August – the second increase in two consecutive months – stock index futures were stagnant on Tuesday morning.
Consumers increased their purchases by 0.4 percent, following a 0.3 rise in July. Many feared that the back-to-school shopping season would disappoint, but purchases excluding auto sales rose by 0.6 percent.
"It's reassuring," Michael Feroli, the chief U.S. economist at JPMorgan Chase in New York, told Bloomberg News. "It takes out some of the fears we had about a month ago about the economy maybe slipping into recession. If the labor market picks up, it's sustainable."
Dow Jones Industrial Average index futures were down by 12 points at 8:46 a.m. EST, while S&P 500 index futures lost 2.4 points to 1,113.80. Nasdaq 100 index futures slipped 4.5 points to 1,912.25.
In Europe, futures were mixed – Dow Jones Euro Stoxx 50 futures slipped 5 points to 2,802 at 8:41 a.m. EST, while Germany's DAX futures rose a single point to 6,265.
Mexican Bolsa index futures remained flat, while Brazilian Bovespa index futures rose 33 points to 68,620.
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.