FX.co ★ US Futures Mixed Ahead of Retail Earnings, Fed Minutes

On Wednesday, U.S. stock futures presented a mixed picture as investors eagerly anticipated earnings reports from significant retail players and the release of the Federal Reserve’s July meeting minutes. While Dow and S&P 500 futures remained relatively flat, Nasdaq 100 futures experienced a slight decline, continuing the trend of pressure on technology stocks. Investors are particularly focused on upcoming results from Lowe’s, Target, and TJX Companies. The release of the Fed minutes is of particular interest, as the July meeting was notable for being the first since 1993 where there were two dissenting votes among officials. Subsequently, attention will shift to Jerome Powell, the Chair of the Federal Reserve, as he prepares to speak at the Jackson Hole symposium. On Tuesday, the S&P 500 and Nasdaq Composite experienced declines of 0.59% and 1.46%, respectively. This downturn was attributed to a widespread selloff in technology shares during a risk-averse session. Notably, Nvidia saw a decrease of 3.5%, AMD dropped by 5.4%, and Palantir Technologies suffered a 9.4% fall. In contrast, the Dow eked out a modest 0.02% gain, buoyed by a post-earnings surge in Home Depot.