US futures steady as retail sales, jobs and CPI data take center stage

US stock index futures were little changed on Tuesday morning after the Dow Jones Industrial Average set another all-time high in the previous session, as investors balanced recent market momentum against a busy week of economic data and corporate earnings.

Dow futures rose 11 points, or about 0.02%. S&P 500 futures gained 0.013%, while Nasdaq 100 futures were up by 0.15%.

The modest moves followed two consecutive days of gains on Wall Street.

The 30-stock Dow rose 0.04% Monday, recording fresh highs on both an intraday and closing basis.

The S&P 500 added roughly 0.5%, while the Nasdaq Composite climbed 0.9%.

Tech rebound supports broader market

Technology shares led the market higher, extending a rebound that began late last week after a sharp sell-off driven by concerns around software companies and megacap tech stocks.

Despite the earlier volatility, the market showed resilience, with technical indicators improving.

The S&P 500 regained support above its 50-day and 100-day moving averages after dipping below them last week, and several asset classes have outperformed the index — signals traders generally interpret as bullish.

Although the Nasdaq was pressured during last week’s tech rout, it remains about 3% below its all-time high.

A rotation away from expensive technology stocks has also helped small and mid-cap companies.

The artificial-intelligence trade remains under scrutiny.

Rising capital-expenditure projections and uncertainty over returns have weighed on sentiment, while investors await upcoming earnings from chipmaker Nvidia later this month.

Software shares have been particularly affected; the S&P 500’s software index has fallen 16% so far this year.

Focus shifts to economic data

Investor attention is now turning toward key economic releases.

The latest retail sales report is expected on Tuesday morning, with economists forecasting a 0.5% monthly gain, or 0.3% excluding auto-related items. Another estimate points to a 0.4% increase compared with a 0.6% rise previously.

The week’s data calendar continues with a major jobs report on Wednesday and consumer price index inflation figures on Friday — releases likely to influence Federal Reserve policy expectations.

Markets currently anticipate the Fed will keep interest rates unchanged until June.

White House economic adviser Kevin Hassett said job growth could slow in the coming months due to weaker labor-force expansion and improved productivity.

Investors are also considering the potential leadership change at the central bank, as President Donald Trump’s nominee Kevin Warsh could assume the role if confirmed by the Senate.

Earnings season remains active

Corporate earnings are another key driver. Coca-Cola reported before the opening bell on Tuesday, with Hasbro and Spotify also scheduled to release results.

Additional reports due before the bell include CVS Health and Harley-Davidson.

Individual stocks showed mixed premarket reactions. Onsemi shares fell 4.7% after missing fourth-quarter revenue expectations, while Upwork plunged nearly 23% after issuing disappointing first-quarter guidance.

Despite last week’s sell-off, the broader market has remained resilient.

The Dow has now logged two consecutive record closes, while the S&P 500 sits just below its January peak.