Futures for stock indexes pair some losses as the opening clock approaches. S&P futures are flat after hitting 0.4%.
Sectors are mostly prime down, but the one exception is Technology. That’s actually a good sign for the index, which has missed a record close in the last few sessions. Tech is what it has here and tech will probably pull it over the finish line.
All Fab 5 megacaps show fashionable pre-market gains, with eyes on Apple as it closes on a $ 2T market cap.
Weighing a broader sentiment is the stalemate over economic stimulus in Washington, the seizure of Iranian fuel cargo, renewed travel restrictions in Europe and a fall in Chinese retail sales. The US publishes its retail sales figures at 8:30 am ET.
“As [the data is] less bad, that’s good. But what may be needed to climb and maintain new heights is evidence that the trajectory is becoming stronger and more positive, “said Quincy Krosby, chief market strategist at Prudential Financial.
Rates are rising again, with 10-year Treasury yields moving above 0.7% for the first time since late June.
Traders are also securing high-level trade talks between U.S. and Chinese officials over the weekend, with Deputy Prime Minister Liu He expected to raise concerns about the executive orders against WeChat and TikTok.
