Traders
work
on
the
floor
of
the
New
York
Stock
Exchange
(NYSE)
during
morning
trading
on
January
11,
2024
in
New
York
City.
Angela
Weiss
|
Afp
|
Getty
Images
Stock
futures
are
lower
Monday
night
as
Wall
Street
awaits
further
data
and
bank
earnings
that
will
provide
a
better
glimpse
into
the
state
of
the
American
consumer.
Futures
tied
to
the
Dow
Jones
Industrial
Average
lost
50
points,
or
0.1%.
S&P
500
futures
dipped
more
than
0.1%,
while
Nasdaq
100
futures
shed
0.2%.
Investors
are
looking
ahead
to
December
retail
sales
data
out
Wednesday,
which
could
fuel
recessionary
fears
and
concerns
about
economic
growth
if
U.S.
consumer
spending
sees
a
cooldown.
Economists
polled
by
FactSet
anticipate
an
increase
of
0.2%
for
the
month,
slightly
under
the
0.3%
increase
in
November.
Another
batch
of
bank
earnings
will
be
out
during
this
holiday-shortened
week,
providing
further
clues
about
consumer
health
and
data
on credit
card payments
and
delinquencies.
Goldman
Sachs,
Morgan
Stanley
and
PNC
Financial
Services
are
set
to
report
on
Tuesday.
Charles
Schwab
and
M&T
Bank,
as
well
as
several
regional
banks,
are
also
slated
to
release
their
earnings
this
week.
Four
big
banks—including
JPMorgan,
Citigroup
and
Wells
Fargo—reported
mixed
results
on
Friday,
but
posted
strong
profits
for
the
year
amid
a
strong
labor
market,
resilient
consumer
and
high
interest
rates.
Stocks
are
coming
from
a
series
of
weekly
gains,
notching
their
10th
winning
week
in
11
weeks
despite
a
hotter-than-expected
December
consumer
inflation
report.
The
negative
producer
price
index
print
had
further
convinced
investors
that
the
Federal
Reserve’s
rate-cutting
campaign
could
begin
soon.
Last
week,
tech
stocks
led
the
market
higher
as
the
Nasdaq
outperformed,
adding
about
3.1%
through
Friday’s
close.
The
Dow
gained
roughly
0.3%,
while
the
S&P
500
advanced
1.8%.
