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.
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.