US stocks are indicating a predominantly lower outlook as the market approaches Tuesday's opening bell. The Dow Jones Industrial Average is slated for another decline as traders anticipate crucial retail sales data along with decisions from the US central bank regarding interest rates. Notably, futures for the Standard & Poor's 500 are down 0.3%, while the Dow is expected to fall by 0.4%, marking its eighth consecutive day of losses.
The Nasdaq, contrastingly, is showing little movement prior to market opening, while Asian and European markets have presented a mix of performance. At 8:30 am ET, the much-anticipated US retail sales figures will be released, coinciding with the commencement of the Federal Open Market Committee's two-day policy meeting.
Market expectations lean toward a 25 basis-point interest rate cut being nearly guaranteed, as indicated by tools from CME FedWatch. In terms of corporate earnings, Amentum (AMTM) is set to report its earnings before the market opens, while Heico (HEI) and Worthington Enterprises (WOR) will publish their results after market close.
Nucor (NUE) experienced a 1.7% dip in pre-market trading following an announcement of quarterly earnings guidance that fell short of current analyst expectations. In addition to the retail sales report, the economic calendar highlights today's industrial production data for November, scheduled for release at 9:15 am, alongside business inventories figures for October at 10 am and the housing market index for December, also due at 10 am. Prior to the market opening, bitcoin saw a 0.6% increase, reaching $106,775.
Conversely, West Texas Intermediate crude oil prices decreased by 0.8% to $70.13 per barrel. Yields on 10-year US Treasuries edged up 3.1 basis points, settling at 4.43%, while gold slightly declined by 0.6% to $2,655 per ounce..