US pre-open: Stocks to fall ahead of data, but Foot Locker rockets
By Benjamin Chiou
Date: Thursday 15 May 2025
(Sharecast News) - US stock markets are expected to open firmly in the red on Thursday as equities pull back from their highest levels in nearly three months ahead of a flurry of economic data.
By 0507 ET, futures were pointing to a 0.4% fall on the Dow, a 0.6% drop on the S&P 500 and a 0.8% decline on the Nasdaq.
Both the S&P 500 and Nasdaq settled at levels not seen since the last week of February on Wednesday, having gained 4.1% and 6.8% over the past three trading sessions as the economic outlook brightened following a temporary trade truce between the US and China, along with a lower-than-expected inflation reading.
However, a long list of economic data due out on Thursday is likely to keep risk appetite in check, with US jobless claims, the Empire State and Philly Fed manufacturing indices, and industrial production figures all due out during the session.
The focus, however, will likely be on US retail sales and April's US producer price index as investors continue monitor the impact of America's fluctuating trade policies on consumer sentiment and input prices.
Retail sales are expected to have stalled in April after growing 1.5% the month before, while annual PPI inflation is tipped to have slowed to 2.5% year-on-year from 2.7%.
Meanwhile, oil prices were sharply lower, with WTI crude down nearly 4% at $60.71 a barrel. "Traders focused on the prospect of a US/Iran nuclear deal which could see economic sanctions lifted on the latter and potentially lead to greater supplies of oil," explained Russ Mould, investment director at AJ Bell.
In company news, Foot Locker will be in focus on the back of rumours that Dick's Sporting Goods is considering a $2.3bn proposal to buy the retailer. The stock was up 71% in pre-market trading.
Meanwhile, futures of network tech giant Cisco were rising 5% after the company beat both revenue and profit estimates in its third quarter, reported overnight.
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