U.S. stock futures were dull on Thursday, looking for another rebound as investors awaited a hectic economic data release that would lead to hopes of a “soft landing” for the U.S.
S&P 500 (^GSPC) futures rose 0.1%, with a solid recovery that saw the benchmark break above the 5,000 mark once again. Futures for the Dow Jones Industrial Average (^DJI) and the tech-heavy Nasdaq 100 Index (^NDX) also rose about 0.1%.
Stocks recouped some of the steep losses recorded on Tuesday as high inflation dampened hopes for a rate cut. Comments from Fed policymakers downplaying the data helped calm nerves.
But investors are still wondering whether the selloff was temporary, driven by seasonal weakness, or the beginning of a larger pullback. Many Wall Street strategists said there were signs of resilience even as stocks fell.
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With this in mind, focus will now turn to the January retail sales report and other new economic indicators due out on Thursday to gauge consumer resilience and the potential for a US “difficulty.” It will be. The report also includes updated information on industrial production and unemployment claims.
Wall Street will also hear from two other Fed officials later in the day, Christopher Waller and Rafael Bostic, the latter of whom will speak after the bell.
