(CercleFinance.com) – The New York Stock Exchange should open without much change on Tuesday morning after the publication of retail sales figures that were worse than expected, an ominous indicator for growth.
Half an hour before the opening, the futures contracts on the main New York indices are all moving around equilibrium, announcing an unchanged start to the session.
After falling 0.2% in April, retail sales rebounded only 0.1% sequentially in May, according to the Commerce Department.
Economists on average expected growth of 0.3%.
These figures, lower than expected, could have reassured the markets by putting back on the table the hypothesis of a drop in interest rates in September.
The probability of a rate cut at the start of the school year rose to 61.7% compared to 56.7% the day before, according to the CME Group’s FedWatch barometer.
The publication of the statistic has also caused the yield on ten-year Treasuries to fall, returning to 4.24%, its lowest level for almost three months.
Investors are now awaiting the publication of industrial production figures and then company inventories.
Boosted by the increases in Microsoft and Apple, the S&P 500 and the Nasdaq set new records on Monday, bringing their progress since the start of the year to almost 15% and 19% respectively.
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