Stock index futures extended their declines on Tuesday evening in extended-hours trading.
Stocks turned lower on Tuesday, putting an end to a five-day winning streak for the Dow Jones Industrial Average and S&P 500 indices. The Dow lost close to 300 points, or less than 1%. The S&P 500 and tech-leaden Nasdaq were similarly down fractionally.
Retail sales for the month of July fell 1.1% vs. June’s results, which is an indication that consumers are playing it cautious due to the spread of the delta variant. Shares of Home Depot weighed on the Dow on the heels of weaker than expected same-store sales.
In addition, the heightened geopolitical unrest as civilians and allies attempt to escape Kabul has added to the uncertain environment.
Stock index futures extended their declines on Tuesday evening in after-hours trading. The Dow, S&P and Nasdaq futures were all down modestly.
The retail earnings parade will continue on Wednesday, with companies such as Lowe’s, Target and TJX on tap to report their quarterly results. If Home Depot’s performance was any indication, Lowe’s stock could be in for a bumpy ride.
Gerelyn is a cryptocurrency and blockchain journalist who has been engaged in the space since mid-2017 when bitcoin was embarking on its first major bull run