US Stock Futures Rose After Sharp Fall Last Week
Stock markets remain relatively stable at the beginning of the week, despite the fact that the United States, Britain and France conducted targeted strikes in Syria over the weekend. The US stock futures pointed to a higher open, as investors breathed a sigh of relief over tensions in Syria and braced for a big week in earnings.
US equities fell on Friday, as results from big banks failed to provide enthusiasm and fear of broader conflict in Syria further unnerved investors. Despite Friday's decline, the major averages still posted strong gains for the week. The Dow and S&P 500 increased by 1.8% and 2% respectively, while the Nasdaq received 2.8%.
The US Commerce Department will publish data on retail sales for March today. The consensus forecast is that the report will show retail sales rose 0.4% last month, snapping back after a decline of 0.1% in February. Core sales are awaited to increase by 0.2%, the same as its rise a month earlier. Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy. Consumer spending accounts for as much as 70% of US economic growth.