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Stock futures point to modest Wall Street gains ahead of big retail earnings week

Stock MarketsAug 16, 2020 08:25PM ET
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© Reuters. FILE PHOTO: New York Stock Exchange opens during COVID-19

NEW YORK (Reuters) - U.S. stock index futures indicate Wall Street will make moderate gains on Monday as retail earnings queue up and with housing data in the offing.

Second-quarter earnings season is mostly over, with major retailers yet to post results. Walmart Inc (N:WMT), Home Depot Inc (N:HD), Kohls Corp (N:KSS), Lowe's Companies Inc (N:LOW), Target Corp (N:TGT) are among the retailers on deck, with industrial Deere & Co (N:DE) set to wrap up the week.

As of Friday, 457 companies in the S&P 500 have posted results, of which 81.4% have come in above a decidedly low expectations bar, according to Refinitiv data.

Housing starts and existing home sales data releases are due this week, both of which are expected to have increased, lending further evidence that housing is bouncing back from a pandemic-induced recession faster than other sectors.

Market participants remain hopeful that Washington will pass a fresh stimulus package, weeks after emergency unemployment benefits expired for millions of Americans.

* S&P 500 e-minis were up 7.25 points, or 0.22%, with 7,955 contracts changing hands.

* Nasdaq 100 e-minis were up 23.25 points, or 0.21%, in volume of 2,919 contracts.

* Dow e-minis were up 56 points, or 0.2%, with 2,243 contracts changing hands.

* Benchmark 10-year note futures last rose 1/32 in price.

 

Stock futures point to modest Wall Street gains ahead of big retail earnings week
 

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Comments (2)
Martin Olsson
Martin Olsson Aug 17, 2020 1:04AM ET
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The guys in the picture look like gangsters trying to steal peoples money :D
Gary Friauf
Gary Friauf Aug 16, 2020 11:30PM ET
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I believe the market has some downside before making new highs. Much bigger correction afterwards.
 
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