As the markets prepare for the upcoming trading day, US equity futures have shown a slight dip before Friday's opening bell. Investors are currently analyzing the latest retail sales data which exceeded expectations for July, along with awaiting fresh catalysts that may dictate the market's trajectory.
The S&P 500 futures have slid down by 0.1%, while both the Dow Jones Industrial Average and the Nasdaq composite index also registered minimal losses. Interestingly, as US markets face this slight pullback, Asian exchanges have been mostly positive, and a majority of European stock markets are showing upward trends, indicating a mixed bag of global market sentiment. According to the latest data released by the Census Bureau, retail sales in the United States surged more than anticipated in July, buoyed primarily by increased consumer spending in the automotive and electronics sectors.
This news comes as a relief to many investors who are monitoring the economic recovery closely. In pre-market trading, shares of Applied Materials, Inc. ($AMAT), a leading supplier of semiconductor equipment, have seen a decline of 3.3%. This drop occurs despite the company reporting fiscal third-quarter results that surpassed analysts' expectations, highlighting a potential disconnect between earnings performance and investor sentiment.
Meanwhile, shares of PropertyGuru Group Limited ($PGRU) rose by 5.6%. The uptick followed the announcement of its agreement to be acquired by affiliates of the EQT's BPEA Private Equity Fund VIII. The all-cash transaction values the online real estate company at approximately $1.1 billion, pointing to continued investor interest in digital real estate platforms. As we look at the broader market landscape, other companies poised to make headlines include Flowers Foods, Inc.
($FLO), RLX Technology Inc. ($RLX), Madison Square Garden Entertainment Corp. ($MSGE), and CI&T Inc. ($CINT), all of which are set to report their latest financial results prior to the market's opening. From an economic outlook perspective, key data points are on the calendar today. The housing starts and permits data for July will be released at 8:30 am ET.
This will be followed by the preliminary consumer sentiment report for August from the University of Michigan, scheduled for 10 am. Additionally, the weekly Baker Hughes domestic oil and gas rig count will be published at 1 pm, adding more context to the current state of energy markets. In a pivotal moment for economic discussions, Federal Reserve Bank of Chicago President Austan Goolsbee is slated to address the public at 1:25 pm, and market participants will be keen to listen to insights that may impact monetary policy outlooks. Before the marking bell rings, bitcoin saw a favorable trade uptick of 2.4%, reaching a price point of $58,430.
Meanwhile, West Texas Intermediate crude oil experienced a decline of 2.4%, settling at $76.31 per barrel. Additionally, interest rates reflected some movement, as yields on 10-year Treasuries decreased by 5.5 basis points to stand at 3.87%. Gold also marked a slight increase, rising by 0.4% to $2,503 per ounce.
As the day progresses, these indicators will be crucial in understanding the prevailing sentiment within the markets. The multitude of financial assessments and notable announcements from corporations today underline the dynamic nature of the market, where every economic release could play a vital role in investor strategy and outlook..