Stocks are poised to open lower on Monday in New York.
NYSE
Text size
Stocks are poised to fall in New York on Monday ahead of another week of earnings featuring large discount retailers
Walmart
and Target and retail sales data for April.
At 6:14 p.m. Eastern time Sunday night, Dow Jones Industrial Index futures were down 54 points, or 0.2%, while S&P 500 futures were down 0.1% and Nasdaq futures were down 0.2%.
Target will report earnings on Wednesday, followed by Walmart on Thursday, amid many other earnings reports from S&P 500 companies. Analysts expect results at both to slide from the January quarter, which included the holiday sales season.
Oil futures were rising. WTI rose 0.1%, to $70.13 a barrel, while Brent crude edged up 0.04%, to $74.16.
The major indexes ended last week mixed, with tech stocks lifting the Nasdaq 0.4% for the week, while the Dow slipped 1.1% and the S&P ended the week 0.3% lower. Weak consumer sentiment is weighing on stocks despite signs that inflation was easing and expectations the Federal Reserve will pause on more interest rate increases when it meets in June.
Retail sales data for April is expected to show a rebound after falling in March. Investors will be listening to what the retailers say about consumer spending behavior in the recent quarter as they assess the health of the consumer economy.
In other economic data this week, on Monday the New York Fed will release its Empire State Manufacturing Survey for May on Monday. Consensus estimate is for a reading of one, about 10 points less than in April. The…
..
