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☆ History shows Wall Street can sustain its first half advance. How Jim Cramer is playing it
▼ + stars: | 2023-07-06 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

While together, the Nasdaq's nearly 20% annual gain in 1983 was quite respectable, the second half was clearly less fruitful. "I don't like the setup now for the beginning of the second half, although I think the second half could be strong." .SPX YTD mountain S & P 500 YTD peformance For the broader S & P 500, recent history suggests that its first-half strength, rising almost 16%, could be built on over the next six months. "That's why I think a strong first half tends to carry over into a strong second half." Stovall said he can envision some choppiness ahead for the S & P 500.

Persons: Jim Cramer, Jim, Wells, JPMorgan Chase, Morgan Stanley, Stocks, tech's, Sam Stovall Sam Stovall, Stovall, UBS Global Wealth Management Claudia Panseri, Claudia Panseri, Panseri, Jim Cramer's, Spencer Platt Organizations: Nasdaq, Procter & Gamble, Club, JPMorgan, Big Tech, FactSet, Federal Reserve, CFRA Research, CNBC, UBS Global Wealth Management, New York Stock Exchange, Getty Locations: U.S

☆ Premarket stocks: Does the Fed have the labor market all wrong?
▼ + stars: | 2023-07-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —The labor market just won’t quit, but this could be another case of “good news is bad news” for the Federal Reserve. But while job growth is a sign of a healthy economy, Fed Chair Jerome Powell has said that he wants to see more slack in the labor market in order to bring inflation down. But in April, the unemployment rate reached 3.4%, with the 12-month average of unemployment reaching a record low of 3.6%. Plus, the mass retirement of baby boomers, slowing of immigration rates and long-term health impacts of Covid have also permanently altered the labor market. Why it matters: These changes have led many economists to say that the labor market doesn’t matter anymore, said Kathryn Rooney Vera, chief market strategist at StoneX.

Persons: won’t, Jerome Powell, ”, Joe Brusuelas, Kathryn Rooney Vera, boomer, we’ve, “, Vera, Sam Stovall, Bryan Mena, Stovall, Jordan Valinsky Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Gross, RSM, Labor, Fed Fed, CFRA Research, Federal, CNN, Handil Holdings Locations: New York, “

☆ We're likely to see 'a positive second half' in the S&P, says CFRA’s Sam Stovall
▼ + stars: | 2023-07-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're likely to see 'a positive second half' in the S&P, says CFRA’s Sam StovallSam Stovall, CFRA Research chief investment strategist, joins 'Squawk Box' to discuss latest market trends, whether the S&P 500 rally can hold in the second half, and more.

Persons: CFRA’s Sam Stovall Sam Stovall Organizations: CFRA Research

☆ Recession worries are likely to carry over into the second half of 2023
▼ + stars: | 2023-07-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +7 min

LaVorgna is in the camp that says it will be difficult if not impossible for the U.S. to avoid at least a modest period of negative growth in the second half. "The only way we won't have a deep recession is if the Fed has the courage to ease very quickly." "The second half will be difficult. And if history is any guide, the strength that has marked the first half of the year likely will carry over into the second half. In years when the index gained more than 10% in the first half, the second half usually sees double the normal second-half return, according to CFRA.

Persons: Joseph LaVorgna, Trump, LaVorgna, That's, Mark Zandi, Zandi, hasn't, CFRA, Sam Stovall, Ian Shepherdson, Shepherdson Organizations: Federal, Nikko Securities America, Fed, Market Committee, Atlanta, Moody's, University of Michigan, Treasury, Pantheon Locations: U.S, nonfarm payrolls, Friday's

☆ Six questions facing US stock investors as 2023's second half nears
▼ + stars: | 2023-06-29 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

With two days left in the first half, the S&P 500 (.SPX) is up 14% in 2023 - a rebound that surprised many analysts after equities’ brutal 2022 decline. If history is a guide, stocks’ strong start may give them a tailwind in the second half. Here are six key questions investors are posing as they assess the market's prospects:WHERE’S THAT RECESSION? While the S&P 500 has gained 14% this year, the equal-weight version of the index -- a proxy for the average stock -- has gained just 4.2%. The S&P 500 tech sector (.SPLRCT) now trades at 27 times forward earnings, according to Refinitiv Datastream.

Persons: Sam Stovall, Refinitiv, Lewis Krauskopf, Ira Iosebashvili, David Gregorio Our Organizations: YORK, Nasdaq, New York Federal Reserve, Treasury, UBS, CAN, Apple Inc, Nvidia Corp, HSBC, Reuters Graphics, Advisory Services, Reuters, Thomson Locations: U.S, Silicon

☆ Investors playing catch up should boost the markets in the second half of 2023: CFRA's Sam Stovall
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors playing catch up should boost the markets in the second half of 2023: CFRA's Sam StovallSam Stovall, CFRA chief investment strategist, joins 'Closing Bell Overtime' to discuss market performance in the second half of the year and what to expect from the Federal Reserve for the rest of the year.

Persons: CFRA's Sam Stovall Sam Stovall Organizations: Federal Reserve

☆ History shows a big market first half leads to a big second half
▼ + stars: | 2023-06-20 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

A big start for stocks in the first six months of 2023 could be a signal that even bigger things are on the way for the rest of the year. Historically, a positive first half has led to gains in the second half 72% of the time, above the normal 69% rate in data cited by CFRA that goes back to 1945. However, history also has shown that the stronger the start, the stronger the finish. The scenario has seen gains 82% of the time. "With this year's S & P 500 gain of nearly 15% YTD through June 16, history suggests investors hold onto their hats, since a stellar H2 may be in order," Sam Stovall, CFRA's chief investment strategist, said in a client note Tuesday.

Persons: CFRA, that's, Sam Stovall

Eight of the 11 S&P 500 sub-sectors were in the red, with the energy index (.SPNY) leading declines. U.S. markets ended lower on Friday as comments from Fed officials curtailed optimism that the central bank was nearing the end of its aggressive interest rate hikes. Traders now see a 72% chance of Fed hiking its key benchmark rates by 25 basis points in July, according to CMEGroup's Fedwatch Tool. Declining issues outnumbered advancers for a 2.43-to-1 ratio on the NYSE and a 1.82-to-1 ratio on the Nasdaq. The S&P index recorded 11 new 52-week highs and no new low, while the Nasdaq recorded 38 new highs and 40 new lows.

Persons: Eli Lilly, Tesla, Rivian, homebuilding, Sam Stovall, CMEGroup's, Michael Barr, Jerome Powell's, Morgan Stanley, Daniel Zhang, advancers, Shristi Achar, Shubham Batra, Johann M, Vinay Dwivedi, Shounak Organizations: Therapeutics, Nike, Dow, Nasdaq, U.S . Federal Reserve, CFRA Research, Tesla Inc, Reuters, EV, U.S . House Financial, PayPal Holdings, KKR & Co, Alibaba, PDD Holdings, Dow Jones, Adobe Inc, Dice Therapeutics, NYSE, Thomson Locations: U.S, Europe, China, Bengaluru

A 1.7% decline in Microsoft Corp (MSFT.O) and a 1.3% dip in Amazon.com Inc (AMZN.O) weighed on the S&P 500 and the Nasdaq. S&P 500 fell 0.36% to end the session at 4,409.77 points. Of the 11 S&P 500 sector indexes, eight declined, led by communication services (.SPLRCL), down 1%, followed by a 0.83% loss in information technology (.SPLRCT). Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 1.4-to-one ratio. The S&P 500 posted 24 new highs and no new lows; the Nasdaq recorded 112 new highs and 67 new lows.

Persons: Christopher Waller, Thomas Barkin, Sam Stovall, Morgan Stanley, Sruthi Shankar, Shristi, Noel Randewich, Vinay Dwivedi, Richard Chang Organizations: Microsoft, Nasdaq Adobe, Nasdaq, Dow, Federal, Richmond Fed, CFRA, University of Michigan's, Microsoft Corp, Inc, Nvidia Corp, Dow Jones, Nvidia, Adobe Inc, iRobot Corp, Micron Technology, Thomson Locations: U.S, Bengaluru, Oakland , California

☆ Wall Street prepares for more gains this month after past week's breakout
▼ + stars: | 2023-06-16 | by ( Scott Schnipper | ) www.cnbc.com time to read: +6 min

For now, it's not a brighter economic picture or an exuberant earnings outlook pushing stocks higher. Another reason that some investors have come back to stocks is simply because the S & P 500 ended the week more than 23% above last October's low. "The next level of resistance is above 4,500 on the S & P. Historically, the market gains 14.5% on average between the 20% threshold level and the next decline of 5% or more. "Inflation peaked in June of last year and has been rapidly declining over the past 12 months. Trading the week after is often treacherous, Hirsch said, with the Dow Jones Industrials falling in 27 of the past 33 years and the S & P 500 down in 23 of 33 years.

Persons: it's, Sam Stovall, Clinton, Wells Fargo, Chris Harvey, Harvey, Jay Hatfield, Price, CarMax, Stovall, Jeffrey Hirsch, Hirsch, Dow Jones Industrials, York Fed's John Williams, Jerome Powell, Philip Jefferson, Lisa Cook, Adriana Kugler, Avid Bioservices, Patterson Cos, Christopher Waller, Michael Bloom, Fred Imbert, Alex Harring Organizations: Fed, CFRA, Microsoft, Infrastructure Capital Management, Consumer, PPI, FedEx, Darden, Dow, Housing, Financial, Enerpac, Avid, Banking, Accenture, Commercial Metals, P, PMI Locations: New York, York, Dublin

☆ Stock futures are little changed as Wall Street looks toward winning week: Live updates
▼ + stars: | 2023-06-15 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

S&P 500 futures and Nasdaq-100 futures also both traded down almost 0.1%. The moves follow a winning session on Wall Street as investors bet interest rate hikes were coming to an end after the Federal Reserve announced it would not increase rates at its meeting this week. Up nearly 3%, the S&P 500 is on pace to notch its best weekly performance since March. However, expiration week often tends to be higher during bull markets and lower in bear markets, according to the Stock Trader's Almanac. That may bode well at least for the S&P 500 and Nasdaq Composite, which are posting strong weeks thus far.

Persons: Dow, Sam Stovall, bode Organizations: New York Stock Exchange, Stock, Federal Reserve, Dow Jones Industrial, Nasdaq, Virgin Galactic, Adobe, Wall, CFRA Locations: New York City, UnitedHealth

☆ Still-hawkish Fed pauses rate tightening after 10 straight hikes
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +13 min

While the market expected a hawkish pause, this is even a little bit more hawkish than market participants anticipated and that’s why you’re having a negative reaction in risk assets. So, it does suggest that the Fed is looking to tighten policy further, but the big question is can the Fed credibly commit to two more rate hikes if they just decided to actually hold rates steady. And what is the threshold for further rate hikes? “GEORGE YOUNG, PORTFOLIO MANAGER, VILLERE & CO, NEW ORLEANS"This a pregnant pause, meaning that they said they're going to pause hikes today but they're going to increase later. ANGELO KOURKAFAS, SENIOR INVESTMENT STRATEGIST, EDWARD JONES, ST LOUIS"We're seeing a more hawkish pause.

Persons: QUINCY KROSBY, Powell, He’s, BRIAN JACOBSEN, MENOMONEE, ” ANDRZEJ SKIBA, ” GENNADIY GOLDBERG, they’ve, ” ELLEN HAZEN, Logan, Waller, “ GEORGE, ANGELO KOURKAFAS, EDWARD JONES, They've, MICHAEL BROWN, hawkishly, WHITNEY WATSON, GOLDMAN, “, STOVALL, ” PAUL NOLTE, MICHAEL JAMES Organizations: YORK, Federal Reserve, Federal, U.S, RBC, CPI, PPI, Powell &, Cleveland Fed, Global Finance, Markets, Thomson Locations: U.S, CHARLOTTE, NC, WISCONSIN, WELLESLEY , MASSACHUSETTS, ORLEANS, GOLDMAN SACHS, Manheim, ALLENTOWN, CHICAGO

☆ US stocks end mixed after Fed signals more rate hikes to come
▼ + stars: | 2023-06-14 | by ( Noel Randewich | Sruthi Shankar | ) www.reuters.com time to read: +3 min

FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 5, 2023. Traders now see a 63% chance the central bank will raise interest rates in July, up from 60% earlier on Wednesday, according to the CME Fedwatch tool. According to preliminary data, the S&P 500 gained 3.83 points, or 0.09%, to end at 4,372.84 points, while the Nasdaq Composite gained 53.16 points, or 0.39%, to 13,626.48. The S&P 500 health sector index and the S&P 500 managed healthcare index both fell. The S&P 500 is up about 14% so far in 2023, while the Nasdaq has climbed about 30%.

Persons: Brendan McDermid, ”, Sam Stovall Organizations: Reuters, Federal Reserve, New York Stock Exchange, REUTERS, Market, CFRA Research, Traders, Nvidia, Broadcom, Nasdaq, Dow Jones, Dow, UnitedHealth, Universal Health Services, HCA Healthcare Locations: New York City, U.S

Further rate increases would "take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments," it said. The new projections, adding a hawkish tilt to Wednesday's interest rate decision, show policymakers at the median see the benchmark overnight interest rate rising from the current 5.00%-5.25% range to a 5.50%-5.75% range by the end of the year. Half of the 18 Fed officials penciled in their "dot" at that level, with three seeing the policy rate moving even higher - including one official who sees it rising above 6%. Two Fed officials see rates staying where they are, and four see a single additional quarter-percentage-point increase as likely appropriate. Reporting by Howard Schneider; Additional reporting by Bansari Mayur Kamdar; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Stovall, Howard Schneider, Bansari Mayur, Paul Simao Organizations: Federal Reserve, Market, SFRA Research, Thomson Locations: WASHINGTON, U.S

☆ It’s official. We’re in a bull market
▼ + stars: | 2023-06-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

The S&P 500 rallied Thursday to end the day in a bull market, marking a 20% surge since its most recent low, reached on October 12, 2022. Buoyed by gains in big technology stocks, the broad-based index closed at 4,293.93 and crossed the threshold that separates a bear market from a bull market — that’s investor-speak for a period of time marked by rising stock prices and optimism on Wall Street. “The key difference for us is that you tend to see bull markets coincide with economic expansions, not economic contractions.”Still, since the last bull market, we’ve had a war in Europe, a banking crisis and a debt crisis among other dramas. The duck marketThe current situation is a bit more nuanced than the bull market-bear market binary, said Kevin Gordon, senior investment strategist at Schwab. “Such narrowness is not what new bull markets are built on.”The bottom line: Investors should “avoid getting sucked into this as a new bull market,” said Samana.

Persons: bullish, ChatGPT, “ We’re, ” Sameer Samana, we’ve, ”, Kevin Gordon, Schwab, Lisa Shalett, they’ve, Sam Stovall, “ Organizations: New, New York CNN, Investors, Big Tech, Google, Apple, Nvidia, Federal, Wells, Wells Fargo Investment Institute, CNN, Tech, US, Morgan Stanley Wealth Management, Fed Locations: New York, Silicon Valley, Wells Fargo, Europe, Samana

☆ Behold Wall Street's new bull market, maybe
▼ + stars: | 2023-06-08 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

Part of the uncertainty is that there is no set definition of a bull or bear market, or any sort of regulatory body that declares one, such as the National Bureau of Economic Research (NBER) does with recessions. The most commonly accepted definition is a 20% rise off a low for a bull market and a 20% decline from a high for a bear market, but even that is open to interpretation. "I just think it was a blip within a longer-term bear market." "Certainly it's a bull market in big-cap technology. I wouldn't call it a bull market in a broad market sense, because there are only certain stocks that are really in what we would call bull market territory, and it's just not a broad enough move to call it a sustainable bull market," said Tim Ghriskey, senior portfolio strategist Ingalls & Snyder in New York.

Persons: Howard Silverblatt, Dow, Silverblatt, Sam Stovall, Stovall, Dan Suzuki, Richard Bernstein, Suzuki, it's, Tim Ghriskey, Ingalls, Snyder, Ned Davis, Chuck Mikolajczak, Noel Randewich, Lewis Organizations: YORK, National Bureau of Economic Research, Reuters Graphics Reuters, Dow Jones, Richard, Richard Bernstein Advisors, Nvidia, Ned Davis Research, Thomson Locations: New York

☆ BMO raises S&P 500 outlook, says 'all the doom and gloom' has yet to happen
▼ + stars: | 2023-06-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The stock market's strength in 2023 is giving BMO Capital Markets reason to turn more bullish on the setup going forward. But even after a slew of significant rate increases, signs point to easing inflation and a strong and a resilient labor market, Belski said. .SPX YTD mountain S & P 500's 2023 performance "In other words, we believe the anticipated recipe for disaster is simply not present," he wrote. "So, from our perspective, all the worries that damaged 2022 market performance are slowly beginning to subside." "So, despite an extremely strong YTD sector performance, we believe the momentum, even if it slows a bit, is likely persist for the foreseeable future."

Persons: Brian Belski, CFRA's Sam Stovall, Belski, Price, — CNBC's Michael Bloom Organizations: BMO Capital, Federal Reserve Locations: Tech

SummarySummary Companies Palo Alto gains on S&P 500 index inclusionApple climbs ahead of developer conferenceIndexes: Dow down 0.25%, S&P up 0.22%, Nasdaq up 0.46%June 5 (Reuters) - The S&P 500 and the Nasdaq rose on Monday, as Apple scaled an all-time peak and investors weighed up chances of the Federal Reserve pausing interest rate hikes at its upcoming policy meeting. Other growth stocks also rose, with Alphabet Inc (GOOGL.O) gaining 1.8% and Amazon.com Inc (AMZN.O) adding 0.9%. Palo Alto Networks Inc (PANW.O) climbed 5.5% as the cybersecurity firm looks set to replace Dish Network (DISH.O) in the S&P 500 index. Declining issues outnumbered advancers for a 1.56-to-1 ratio on the NYSE and for a 1.35-to-1 ratio on the Nasdaq. The S&P index recorded 14 new 52-week highs and two new lows, while the Nasdaq recorded 70 new highs and 32 new lows.

Persons: Thomas Hayes, Sam Stovall, advancers, Sruthi Shankar, Shristi, Vinay Dwivedi, Anil D'Silva Organizations: Palo, Dow, Nasdaq, Apple, Apple Inc, Alphabet Inc, Amazon.com Inc, Great, Capital, Institute for Supply Management, CFRA Research, Dow Jones, Palo Alto Networks, Dish Network, Big, Wall Street Journal, Tesla Inc, NYSE, Thomson Locations: U.S, Washington, Big U.S, China, Bengaluru

☆ Premarket stocks: The Fed can't figure out what's happening with the job market
▼ + stars: | 2023-06-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New data out Wednesday showed that job openings and hiring both rose in April, while unemployment sits near 53-year lows. What’s happening: The number of available jobs in the United States rose unexpectedly in April after three months of declines. Job openings climbed to 10.1 million in April, according to data released Wednesday by the Bureau of Labor Statistics. Fed Chair Jerome Powell has said that he wants to see more slack in the labor market. “I love what I do,” Dimon told Bloomberg, adding he’s “quite happy” in his current job.

Persons: won’t, —, Jerome Powell, Philip Jefferson, ”, Jefferson, Mark Hamrick, “, Sam Stovall, David Kotok, Joe Biden, It’s, Mitch McConnell, ” Biden, Biden, Jamie Dimon, Elon Musk, Dimon, he’s, ” Dimon, Matt Egan, he’d Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Bureau of Labor Statistics, BLS, Fed, Index, Commerce Department, FedWatch, Cumberland Advisors, Senate, ”, JPMorgan, Bloomberg Television, Bloomberg Locations: New York, China, Europe, United States, America

The S&P 500 (.SPX) index closed flat but remained near its highest level since August 2022, just above 4,200 points. The S&P 500 and the Nasdaq were still set for monthly gains in May. Over the weekend, U.S. President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy agreed to temporarily suspend the debt ceiling and cap some federal spending. But I firmly believe a debt ceiling agreement will be approved before the June 5 drop dead date." Only four of the S&P 500's 11 sectors were higher, while declining stocks outweighed advancing shares on both the S&P 500 and Nasdaq.

Persons: Joe Biden, Kevin McCarthy, McCarthy, Sam Stovall, Anthony Saglimbene, Thomas Hayes, FEDWATCH, Elon Musk, Shreyashi Sanyal, Shashwat Chauhan, Shounak Dasgupta, Maju Samuel, David Gregorio Our Organizations: Dow Jones, Nasdaq, Republican, Republicans, Nvidia Corp, Reuters Graphics Reuters, Digital, Federal, Semiconductor, Nvidia, Great, Capital, Labor, Thomson Locations: New York, Troy , Michigan, Philadelphia, China's, Beijing, Bengaluru

☆ Stovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fall
▼ + stars: | 2023-05-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fallSam Stovall, CFRA Chief Investment Strategist, discusses potential catalysts for the markets this week.

☆ Bank of America hikes year-end target for S&P 500, citing focus by companies on efficiency and A.I.
▼ + stars: | 2023-05-21 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

In a note to clients on Sunday, Bank of America strategist Savita Subramanian hiked her year-end price target for the S & P 500 to 4,300 from 4,000. The S & P 500 is already up more than 9% year-to-date. .SPX YTD line The S & P 500 has gained more than 9% in 2023. The new target puts Bank of America above the average in the CNBC Market Strategist Survey . The highest target among major Wall Street firms is still 4,575 from CFRA's Sam Stovall.

☆ US stocks close lower after Republicans and the White House hit an impasse in debt-ceiling talks
▼ + stars: | 2023-05-19 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

US stocks fell Friday after talks in Washington over raising the debt ceiling were paused. "We've got to get movement by the White House and we don't have any movement yet," House Speaker Kevin McCarthy said. Stocks earlier this week hit a nine-month high on hopes a debt-limit deal was in reach soon. Republican House Speaker Kevin McCarthy said talks with the Biden administration had reached a standstill. "We've got to get movement by the White House and we don't have any movement yet," McCarthy said at the Capitol, according to the Associated Press.

☆ Wall St dips, Treasury yields climb on mixed data; debt ceiling talks take spotlight
▼ + stars: | 2023-05-16 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 15, 2023. Meanwhile, disappointing results from Home Depot (HD.N), combined with weaker-than-expected retail sales data suggested consumer spending is losing some momentum as restrictive monetary policy dampens demand. However, a core measure of retail sales suggested the American consumer continues to bolster the economy. U.S. Treasury yields continued to climb on the heels of the Retail Sales data, suggesting that the Fed's efforts to toss cold water on the economy in order to rein in inflation has yet to take full effect. The greenback edged higher against a basket of world currencies after the weaker-than-expected retail sales data, shifting focus to the partisan debt ceiling wrangling unfolding in Washington.

☆ Stock futures are slightly higher as Wall Street focuses on debt ceiling negotiations: Live updates
▼ + stars: | 2023-05-16 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Stock futures are modestly higher Tuesday night as investors awaited news of developments in the negotiations between congressional leaders and President Joe Biden on the U.S. debt ceiling. S&P 500 futures and Nasdaq-100 futures each gained 0.1%. The president also canceled the second leg of an upcoming international trip given the negotiations, the White House said. Disappointing quarterly revenue and a lower forecast for full-year performance from Dow member Home Depot also soured investor sentiment in Tuesday's session. In addition to tracking any updates on debt ceiling negotiations, investors will watch for data on housing starts and building permits on Wednesday.

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