NYSE U.S. stock futures were slightly lower on Sunday afternoon after some positive inflation data helped lift all major indexes ahead of a week of big gains for retailers. Futures tied to the Dow Jones industrial average fell 55 points, or 0.2%. S&P 500 and Nasdaq 100 futures also fell 0.2%. Last week the S&P 500 rose 3.25% for its fourth positive week and longest winning streak since 2021. The Nasdaq Composite closed the week 3.08% higher, also for the fourth week in a row. The Dow rose 2.9%. The gains came after economic data showed inflationary pressures could ease a bit. The consumer price index was flat from June to July, the producer price index showed a surprise drop and import prices fell more than expected. That helped ease investors who were willing to label the mid-June lows as the end of the cycle. Just as many were quick to point out that one month’s worth of data doesn’t necessarily make it a reliable trend. “While bulls may be chalking up this week as yet another victory for a stock rally that has impressively lasted nearly two months since June lows, bears continue to mask risks to year-end earnings and margins that they could spoil the party for those who celebrate too early,” Morgan Stanley said on Sunday. Investors are looking ahead to a week of earnings from major retailers, including Home Depot, Walmart and Target, and listening for signs of how their businesses were affected by inflation and other macroeconomic challenges in the most recent quarter. Retail sales data is also scheduled to be released this week.
