On Wednesday, the stock futures experienced a decline as yields continued to rise, signaling a possible continuation of Wall Street’s previous session losses.
Futures linked to the Dow Jones Industrial Average saw a drop of 158 points, equivalent to 0.4%. S&P 500 futures and Nasdaq-100 futures also experienced declines of 0.5% and 0.7% respectively.
The retail sales data for December showed stronger than anticipated results, indicating a resilient consumer base and casting doubt on the possibility of aggressive rate cuts from the Federal Reserve. Retail sales increased by 0.6%, with a 0.4% increase when excluding auto sales. Economists polled by Dow Jones had predicted a 0.4% increase in retail sales and a 0.2% increase without automobiles.
Source (CNBC)
