Stock Futures Edge Up Ahead of Retail Sales Data

May 17, 2022 3:28 a.m. ET

Stock futures that rise ahead of monthly retail sales figures will be watched for clues about consumer behavior during times of high inflation.

Futures on the S&P 500 index rose 0.6% and the Dow Jones Industrial Average gained 0.4%. Contracts do not necessarily predict moves after the opening bell.

European stocks rallied on Tuesday for a three-session winning streak. Stoxx Europe 600 was up 0.9% in morning trading. The materials and energy sectors led the gain while the media services and healthcare sectors lost ground.

The UK’s FTSE 100 rose 0.3%. Other stock indexes in Europe were also mostly higher with France’s CAC 40 up 0.8 percent, Britain’s FTSE 250 up 0.5 percent and Germany’s DAX up 0.9 percent.

The Swiss franc, euro and pound strengthened 0.2%, 0.3% and 0.6% respectively against the US dollar.

In commodities, Brent crude fell 0.2 percent to $114.05 a barrel. Gold rose 0.6% to $1,825.70 an ounce.

The German 10-year bundle yield is up to 1.004% and the yield on the UK government 10-year debt so-called gilt is up to 1.824%. Yields on 10-year US Treasuries increased from 2.877% to 2.920%. Yields move inversely with bond prices.

In Asia, major indexes rallied with Hong Kong’s Hang Seng up 2.6%, Japan’s Nikkei 225 up 0.4% and China’s Shanghai Composite up 0.6% after down 0.5% in the session.

Traders worked on the floor of the New York Stock Exchange on Monday.


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—An artificial intelligence engine was used to create this article.

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