U.S. stock futures edged lower Tuesday, ahead of data expected to show the U.S. consumer still spending at stores despite rising prices.
What’s happening
On Monday, the Dow Jones Industrial Average DJIA,
What’s driving markets
With bond yields at three-week highs, inflation worries were back at the forefront.
“Uncertainty about the persistence of higher inflation continues to dog investor sentiment amid ongoing speculation about the timing of interest rate hikes by the world’s major central banks. A stronger-than-expected jump in the New York Fed’s manufacturing gauge on Monday was the latest data point to highlight long-lasting supply disruptions and rising costs, giving Treasury yields a nudge up,” said Raffi Boyadjian, lead investment analyst at XM.
There’s a busy slate of economic data, including on retail sales and industrial production, for Tuesday.
Earnings from the country’s top retailers also are due. Home Depot HD,