Stock futures rise ahead of retail sales data
Stock futures traded slightly higher Wednesday evening to extend gains from a positive session earlier, with the three major indexes recovering from some heavy selling pressure earlier this month.
Contracts on the S&P 500 moved higher as the overnight session kicked off. Dow and Nasdaq futures also gained.
Traders are looking ahead to a set of key economic data on Thursday, which will show how solidly the consumer held up as the latest wave of the coronavirus spread across the U.S. The Commerce Department’s August retail sales report is expected to show a back-to-back monthly drop in spending, with overall sales likely to fall by 0.7% on the month after a 1.1% drop in July, according to Bloomberg data.
“We’re expecting another soft retail sales report [Thursday], for August, but to put the numbers in context, the control measure — which generates the non-durable goods component…