US stock futures were muted on Thursday, striving to mount a further rebound as investors awaited a busy roster of economic data that will feed into hopes for a “soft landing” for the US.
S&P 500 (^GSPC) futures edged up 0.1%, coming off a solid recovery that saw the benchmark top the 5,000 mark again. Futures on Dow Jones Industrial Average (^DJI) and the the tech-heavy Nasdaq 100 (^NDX) also stepped up roughly 0.1%.
Stocks have recouped some of the steep losses booked Tuesday after a hot inflation print dented hopes for interest rate cuts. Comments from Federal Reserve policymakers playing down the data helped soothe nerves.
But investors are still wondering whether the rout was a one-off, with some seasonal weakness playing a part, or the start of a bigger pullback. Many Wall Street strategists have pointed out that there were signs of resilience even as stocks tumbled.
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Given that, focus will turn to the January retail sales report and other fresh economic data due Thursday for a window into consumer resilience and the chances of “no landing” for the US. Updates on industrial production and jobless claims are on the docket too.
Wall Street will also listen out for remarks from two Fed officials Christopher Waller and Raphael Bostic later in the day, with the latter speaking after the bell.
