Stock Market Volatility Continues Amidst Dovish Fed Bets and Retail Sales Upside Surprise
Originally Published 2 years ago — by CNBC
Stock futures are relatively unchanged after a losing session on Wall Street, with the Dow snapping a three-day winning streak. H&R Block and Cava saw gains after stronger-than-expected quarterly reports, while financial stocks slid following warnings of potential credit rating downgrades. Economic news out of China also weighed on investor sentiment. With just over half of August remaining, the major indexes are on track for a losing month. Investors will be watching for economic data on housing, industrial production, and capacity utilization, as well as the latest retail corporate earnings. Second-quarter profits for S&P 500 companies have declined about 5% from last year, marking the third consecutive quarterly decline. Warning signs are showing for certain major market indexes, with the S&P 500 and Russell 2000 ending below their 50-day moving averages, potentially signaling a downtrend. The Dow suffered its worst day since July 6 but remains above its 50-day moving average.