U.S. stock futures turn lower after railway strike averted and ahead of retail sales data

U.S. stock index futures turned lower Thursday ahead of the release of data on August retail sales, regional manufacturing and weekly unemployment claims, after a tentative deal to avoid a nationwide railway strike was reached.

What’s happening
  • Futures on the Dow Jones Industrial Average
    fell 42 points, or 0.1%, to 31209.

  • Futures on the S&P 500
    dropped 8.25 points, or 0.2%, to 3957.

  • Futures on the Nasdaq 100
    decreased 46.5 points, or 0.4%, to 12176.

On Wednesday, the Dow Jones Industrial Average
rose 30 points, or 0.1%, to 31135, the S&P 500

increased 13 points, or 0.34%, to 3946, and the Nasdaq Composite
gained 86 points, or 0.74%, to 11720.

What’s driving markets

The White House in the early hours of Thursday announced that a deal to avert a railway strike set for midnight was reached. The stocks of railroad operators including Union Pacific
rose in premarket trade.

Wall Street had fretted such a strike could exacerbate inflation at a time when consumer prices already were rising at a clip of 8.3% year-over-year in August.

There’s still a host of economic reports to come on Thursday, most notably the retail sales report for August. A busy slate also includes weekly jobless claims, import prices and industrial production for August, and September readings of both the Empire State and Philadelphia Fed manufacturing indexes.