Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

U.S. Futures Edge Higher as Walmart Beats; Retail Sales Due

Stock MarketsNov 16, 2021 13:30
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters

By Peter Nurse - U.S. stocks are seen opening marginally higher, with investors digesting the release of quarterly earnings from a number of major retailers and ahead of  the latest official retail sales figures.

At 7 AM ET (1100 GMT), the Dow Futures contract was up 55 points, or 0.2%, S&P 500 Futures traded 5 points, or 0.1%, higher, while Nasdaq 100 Futures climbed 20 points, or 0.1%.

The three major indices closed largely unchanged Monday, but came off their first losing week in six after last month’s consumer price data showed inflation running at historic levels, raising the pressure on the Federal Reserve to lift interest rates. 

However, before they hike rates the Fed policymakers will want to see that the higher prices haven't severely curtailed retail spending, with the strength of the consumer a very important part of the economic recovery. 

October retail sales data are due at 8:30 AM ET (1330 GMT), with economists expecting an increase of 1.1%, after a 0.7% rise in September.

Walmart (NYSE:WMT) and Home Depot (NYSE:HD) both released results a little ahead of expectations, the latter helped by sustained demand for tools and materials from builders. 

Tesla (NASDAQ:TSLA) will also be in the spotlight after JPMorgan Chase brought a $162 million lawsuit against the electric vehicle-maker alleging breach of contract over stock warrants that came due this year. 

Aside from this, investors will attempt to digest the potential repercussions of the virtual meeting between U.S. President Joe Biden and his Chinese equivalent Xi Jinping, with the two leaders discussing a range of topics including trade, the pandemic, climate change and Taiwan.

Biden also signed the $1 trillion bipartisan infrastructure bill into law on Monday, authorizing funding for transportation, broadband and utilities.

Crude prices rebounded Tuesday after recent losses, despite signs that supply may be picking up, altering the balance in favor of consumers.

The International Energy Agency said it expects global oil supply to rise by an average of 1.5 million barrels a day over the final two months of this year, helped by a 400,000 barrel-a-day increase in U.S. output. 

Data from Baker Hughes indicated that U.S. energy firms added oil and natural gas rigs for a third week in a row last week.

Attention will turn to the release of U.S. crude oil inventory data from the American Petroleum Institute later in the day.

By 7 AM ET, U.S. crude futures traded 0.5% higher at $80.16 a barrel, while the Brent contract rose 0.6% to $82.55. Both contracts dropped last week on the whole, for the third week in a row.

Additionally, gold futures rose 0.5% to $1,875.90/oz, while EUR/USD traded flat at 1.1368, near its new low for the year.


U.S. Futures Edge Higher as Walmart Beats; Retail Sales Due

Related Articles

VF Corporation Falls, Despite Earnings, Revenue Beat
VF Corporation Falls, Despite Earnings, Revenue Beat By - Jan 28, 2022

By Sam Boughedda — Shares of apparel and footwear company VF Corporation (NYSE:VFC) hit lows of $62.12 Friday despite reporting a top and bottom-line beat in...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email