U.S. equity futures showed little movement in premarket trading Tuesday, with market participants focused on a series of key economic releases and a significant government debt sale. As of early morning, Dow futures edged up 45 points (0.09%), S&P 500 futures gained 4.75 points (0.07%), and Nasdaq 100 futures rose 5 points (0.02%).
The December retail sales report, scheduled for release at 8:30 a.m. ET, represents the day's most critical data point. Consumer spending accounts for approximately two-thirds of U.S. economic activity, making this indicator a potential catalyst for movements in bond yields, the dollar, and equity markets. Simultaneously, the Labor Department will publish import and export price indexes for December, offering insight into trade-related inflation pressures.
Market sentiment received a mixed signal from the latest small business survey. The NFIB Small Business Optimism Index dipped slightly to 99.3 in January, while the Uncertainty Index jumped 7 points to 91. "While GDP is rising, small businesses are still waiting for noticeable economic growth," noted NFIB Chief Economist Bill Dunkelberg.
Later in the day, the U.S. Treasury will conduct an auction of $58 billion in 3-year notes, with bidding starting at 1:00 p.m. ET. The yield set at this auction will be closely watched as a gauge of demand for government debt. Market attention will then shift to Wednesday's January jobs report and Friday's Consumer Price Index inflation reading.
In corporate news, shares of ON (Onsemi) fell nearly 6% in after-hours trading after the semiconductor company reported fourth-quarter revenue of $1.53 billion and provided a weaker-than-expected first-quarter sales forecast ranging from $1.44 billion to $1.54 billion, citing ongoing inventory adjustments.
Monday's trading session saw a broad market advance, with the Dow Jones Industrial Average rising 20.20 points to close at a record 50,135.87—its second consecutive all-time high. The S&P 500 gained 32.52 points to finish at 6,964.82, while the Nasdaq Composite jumped 207.46 points to 23,238.67. Technology and software stocks led the recovery following last week's declines.
