Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on January 11, 2024 in New York City.
Angela Weiss | AFP | Getty Images
Stock futures are lower on Monday night as Wall Street awaits more data and bank earnings that could provide a better picture of the health of U.S. consumers.
Futures, which track the Dow Jones Industrial Average, fell 32 points, or 0.08%. S&P 500 futures fell nearly 0.1%, while Nasdaq 100 futures fell less than 0.1%.
Investors are keeping an eye on Wednesday's retail sales data for December, which could raise concerns about recession and economic growth if U.S. consumer spending cools. Economists polled by FactSet forecast a 0.2% increase for the month, slightly below November's 0.3% increase.
Separate bank results will be released this holiday-shortened week that will provide further clues about consumer health and data on credit card payments and delinquencies. Goldman Sachs, Morgan Stanley and PNC Financial Services are scheduled to release their reports on Tuesday. Charles Schwab and M&T Bank, as well as several regional banks, are also scheduled to report earnings this week.
Four major banks, including JPMorgan, Citigroup and Wells Fargo, reported mixed results on Friday but expected strong profits this year on the back of a strong labor market, resilient consumers and high interest rates. was recorded.
Despite December's better-than-expected consumer inflation report, stocks continued their weekly gains, marking their 10th rising week in 11 weeks. The negative Producer Price Index results further convinced investors that the Fed's interest rate cutting campaign could soon begin.
Tech stocks led the market's gains last week as the Nasdaq outperformed, rising about 3.1% through Friday's close. The Dow Jones Industrial Average rose about 0.3%, and the S&P 500 rose 1.8%.
