Stock futures rise slightly ahead of more retail earnings before the Thanksgiving holiday
Stock futures opened slightly higher Sunday evening ahead of another batch of retail earnings to kick off a shortened week for the Thanksgiving holiday.
Investors have been reflecting on the strength of the recent bear market rally, which kicked off earlier in the month with the October consumer price index reading and gained some steam with last week's reading on wholesale prices. Traders last week were hung up on messaging from Federal Reserve officials, who were less impressed with the figures and reassessed their optimism around the possibility of slowing inflation.
"Despite what holiday season spending may suggest, retail stocks tend to be in the top three for November, but in the bottom three for December, and somewhere middle-of-the-pack in January," Liz Young, SoFi's chief investment strategist, said in a note this weekend. Investors will also get a flurry of economic reports, including durable goods, new home sales, unemployment claims, and consumer sentiment, as well as the release of the minutes from the last Federal Reserve meeting.
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