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Traders Digest Retail Sales Data Ahead of Holiday Break, Driving Muted Premarket Action for US Equity Futures
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Traders Digest Retail Sales Data Ahead of Holiday Break, Driving Muted Premarket Action for US Equity Futures
Jun 18, 2024 6:31 AM

08:59 AM EDT, 06/18/2024 (MT Newswires) -- US equity futures were flat premarket Tuesday as traders digested retail sales data.

Dow Jones Industrial Average futures slipped less than 0.1%, S&P 500 futures flatlined, and Nasdaq futures increased 0.1%.

US markets will be closed Wednesday for the Juneteenth holiday.

Oil prices were little changed, with front-month global benchmark North Sea Brent crude up 0.04% at $84.28 per barrel and US West Texas Intermediate crude gained 0.01% at $79.75 per barrel.

Retail sales, released at 8:30 am ET, rose 0.1% in May following a 0.2% downtick in April, smaller than estimates compiled by Bloomberg for a 0.3% increase.

Industrial production, slated for 9:15 am ET, is expected to have risen by 0.3% in May compared with no change in April.

April business inventories are due at 10 am ET, with forecasters calling for a 0.3% uptick following a 0.1% decline in March.

In other world markets, Japan's Nikkei closed 1% higher, Hong Kong's Hang Seng ended 0.1% lower, and China's Shanghai Composite finished 0.5% higher. Meanwhile, UK's FTSE 100 increased 0.5%, and Germany's DAX index gained 0.2% in Europe's early afternoon session.

In equities, shares of Patterson Companies ( PDCO ) were 5% higher pre-bell after the company posted fiscal Q4 sales that topped analysts' estimates. Silk Road Medical ( SILK ) shares increased 23% after the company agreed to be acquired by Boston Scientific for $27.50 per share.

On the losing side, Aerwins Technologies ( AWIN ) shares slumped nearly 52% after the company disclosed in an 8-K filing that it received a delisting notice from the Nasdaq Stock Market. Zentalis Pharmaceuticals ( ZNTL ) shares fell 23% after the company said that the US Food and Drug Administration has placed a partial clinical hold on several studies of oncology drug candidate azenosertib.

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