Futures listed on the New York Stock Exchange rose on Tuesday as investors awaited a wave of inflation data scheduled for release later in the week. Contracts listed on the Dow Jones Industrial Averaged edged above the flatline, while futures on the benchmark S&P 500 gained 0.2%. Those on the tech-heavy Nasdaq 100 were up by 0.3%.
On Wednesday morning, the Consumer Price Index (CPI) for July is due for release, with observers expecting CPI growth to slow down, thereby indicating market stability. This is set to be followed by the retail sales reading for the month on Thursday.
Home Depot shares slumped after the home improvement retailer lowered its same-store sales outlook for the remainder of the year. Nvidia, in contrast, rose by roughly 1% during premarket trading with Bank of America naming it a top “rebound” stock. This built on the chipmaker’s 4% rise during the previous session.
Chipotle was one of the largest tumblers on Wednesday, with the restaurant chain experiencing an 8% decline in pre-market trading after its Chief Executive Officer, Brian Niccol, left the company to take on the same role at Starbucks.