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U.S. stocks set to open lower after weak retail sales
Sara Sjolin
Reuters
J.P. Morgan earnings are among highlights on the earnings calender on TuesdayStock futures pointed to a slightly weaker open on Wall
Street Tuesday, as investors assessed the impact of disappointing retail
sales and the impact of the Iranian nuclear deal.
Americans spent
less at U.S. retailers last month, while the prior two months figures
were also revised lower. Weaker sales point to a slower pace of economic
growth.
Futures for the Dow Jones Industrial Average
YMU5, -0.17%
slipped 24 points, or 0.1%, to 17,877, while those for the S&P 500 index
ESU5, -0.16%
lost 2 points, or 0.1%, to 2,092. Futures for the Nasdaq 100 index
NQU5, +0.05%
rose 3 points to 4,491.
May 2015 retail and food services sales
were $442 billion, down 0.3 percent from April 2015 but up 1.4 percent
from May 2014. Excluding automobiles, retail and food services sales in
May 2015 were $350.3 billion, down 0.1 percent from the prior month but
up 0.1 percent from one year earlier.
THE NEW GREEK BAILOUTWhile Prime Minister Alexis Tsipras of Greece is trying to get his Parliament to agree to the latest bailout deal, Greek banks are in need
of a bailout of their own. The European Central Bank has kept them
running for months with emergency loans, but it won't provide any
additional cash - it is waiting for Parliament to approve Monday's bailout deal. This means Greek banks may not open this week and could soon run out of cash, Jack Ewing writes
in The New York Times. Every day that the banks stay closed adds to
their problems and the eventual cost of an overhaul, Mr. Ewing notes.
Hillary Rodham Clinton at a campaign rally last month on Roosevelt Island. Doug Mills/The New York Times
7/14/2015
By Maggie Haberman
Good Tuesday
morning from Washington, which will be analyzing the nuclear deal the
Obama administration just made with Iran. The deal comes as President Obama is scheduled to deliver a big speech, while on the campaign front, Gov. Scott Walker, an opponent of the Iran deal, has joined the crowd running for the Republican nomination. But first, Hillary Rodham Clinton will be returning to the Capitol to court a group she was unable to win over in 2008.
U.S. stocks set to break winning run after Iran nuclear deal
Sara Sjolin
Reuters
J.P. Morgan earnings are among highlights on the earnings calender on TuesdayStock futures pulled back Tuesday, as energy shares
headed south in premarket trade after an Iranian nuclear deal stoked
fears of oil-market oversupply.
Futures for the Dow Jones Industrial Average
YMU5, -0.03%
slipped 17 points, or 0.1%, to 17,883, while those for the S&P 500 index
ESU5, -0.03%
lost 1.65 points, or 0.1%, to 2,092.75. Futures for the Nasdaq 100 index
NQU5, +0.06%
rose 1.25 points to 4,489.25.
A
rebound in China fizzled Tuesday as investors question whether the
rally would be able to continue without fresh government help.
The Shanghai Composite
SHCOMP, -1.16%
closed down 1.2% at 3924.49,
knocking off some of the gains from a three-day rally. The index remains
down nearly a quarter from its peak on June 12.
The smaller Shenzhen Composite Index
399106, +1.38%
rose 1.4% to 2149.52 and the small-cap ChiNext board
399006, +1.60%
gained 1.6% at 2726.05. Both are off about a third from June highs.
Hong Kong’s Hang Seng Index
HSI, -0.41%
was down 0.6%, after rebounding by over 7% in the last three trading days.
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