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Stock market futures were slightly higher Thursday as investors tried to regain their footing a day after the Dow Jones Industrial Average snapped a five-day winning streak and a recent market rally appeared to fade.
Futures for the Dow Jones Industrials leaped 69 points, or 0.2%, early Thursday to 34,032.
Futures for the S&P 500 added 12.25 points, or 0.3%, to 4,289
Futures for the NASDAQ Composite hurtled 47 points, or 0.4%, higher at 13,540.25.
Investors continued to monitor retail earnings for insight into the health of the consumer, which continued Thursday with reports from Kohl’s, Bath & Body Works and BJ’s Wholesale. Kohl’s shares slid in the pre-market after the company cut its guidance.
Those moves came as traders parsed through the minutes from the Federal Reserve’s July meeting. The central bank remains committed to fighting inflation, but indicated it could adjust its pace of tightening based on market conditions.
Investors have been hoping that the Fed might slow the pace of its rate hikes after July’s consumer price index reading showed inflation cooling slightly. But not everyone is convinced.
Some key economic data will also be released Thursday, including weekly jobless claims and existing home sales.
In Japan, the Nikkei 225 index dipped 1%, while in Hong Kong, the Hang Seng index forfeited 0.8%,
Oil prices gained 97 cents to $89.08 U.S. a barrel.
Gold prices picked up $6.20 to $1,782.90 U.S. an ounce.
