Stock market news live updates: Stock futures mixed as S&P 500 hovers just below record

Stock futures pointed to another mixed session on Wall Street, mirroring Thursday’s moves when tech shares led the Nasdaq to back-to-back sessions of advances while the S&P 500 and Dow declined.

AAPL) edged lower in pre-market trading after rising to a record high on Thursday. Bloomberg reported that the iPhone-maker was preparing to release a new subscription bundle, which would include a package of its services offerings like Apple Music and Apple TV in a bid to unlock a new recurring revenue stream. Meanwhile, Epic Games sued Apple after its “Fortnite” game was removed from the App Store, after the developer created an in-app payment system to bypass the App Store and avoid having Apple collect its usual 30% commission on app purchases.” data-reactid=”17″ type=”text”>Shares of Apple (AAPL) edged lower in pre-market trading after rising to a record high on Thursday. Bloomberg reported that the iPhone-maker was preparing to release a new subscription bundle, which would include a package of its services offerings like Apple Music and Apple TV in a bid to unlock a new recurring revenue stream. Meanwhile, Epic Games sued Apple after its “Fortnite” game was removed from the App Store, after the developer created an in-app payment system to bypass the App Store and avoid having Apple collect its usual 30% commission on app purchases.

market participants continued to digest Thursday’s estimates-topping weekly jobless claims report, which showed the first dip below 1 million in new weekly unemployment insurance claims since the start of the pandemic. The reading, while reflecting an improvement relative to the worst points of the pandemic period, might also take some pressure off lawmakers to speedily pass a new round of stimulus legislation, some analyst warned.” data-reactid=”22″ type=”text”>Elsewhere, market participants continued to digest Thursday’s estimates-topping weekly jobless claims report, which showed the first dip below 1 million in new weekly unemployment insurance claims since the start of the pandemic. The reading, while reflecting an improvement relative to the worst points of the pandemic period, might also take some pressure off lawmakers to speedily pass a new round of stimulus legislation, some analyst warned.

The US Senate adjourned for August recess on Thursday without passing a new Covid relief bill, as a stalemate between key negotiators showed no signs of abating. Senators and members of the US House of Representative are not scheduled to return to Washington until after Labor Day, though Senate Majority Leader Mitch McConnell said Senators would receive at least 24 hours notice to return if negotiators convened on a deal and scheduled a vote in the interim.

as a recovery from April’s historic decline slows. The University of Michigan’s preliminary Surveys of Consumers report later in the morning is expected to show consumer sentiment extended its decline from July, with concerns over a lapse in federal enhanced unemployment insurance and other stimulus measures weighing.” data-reactid=”26″ type=”text”>Investors will receive another couple of reports on the state of the US consumer on Friday. The Commerce Department’s retail sales report Friday morning is expected to show a decelerating monthly gain of 2.0%, down from a 7.5% surge in June, as a recovery from April’s historic decline slows. The University of Michigan’s preliminary Surveys of Consumers report later in the morning is expected to show consumer sentiment extended its decline from July, with concerns over a lapse in federal enhanced unemployment insurance and other stimulus measures weighing.

8:30 a.m. ET: Retail sales rise 1.2% month over month; 2.1% expected

less than expected in July as a rebound in consumer spending over the past several months lost steam.” data-reactid=”29″ type=”text”>US retail sales increased less than expected in July as a rebound in consumer spending over the past several months lost steam.

Commerce Department said Friday, missing consensus estimates for a 2.1% jump. In June, retail sales rose by an upwardly revised 8.4%, following a record 18.2% monthly surge in May.” data-reactid=”30″ type=”text”>Headline retail sales rose 1.2% in July over June, the Commerce Department said Friday, missing consensus estimates for a 2.1% jump. In June, retail sales rose by an upwardly revised 8.4%, following a record 18.2% monthly surge in May.

By category, sporting goods and hobby store sales dropped 5% in July for the biggest decrease of any category. This was followed by a 2.9% drop in sales at building material and supply dealers, and a 1.2% drop in motor vehicle and parts dealers. 

Excluding more volatile auto and gas sales, however, retail sales rose a better than expected 1.5%, versus the 1.0% increase expected. This followed a 7.7% gain in June in this metric, which was upwardly revised by a full percentage point. Control group sales, which also excludes building materials, rose 1.4%, or better than the 0.8% increase expected.

7:06 a.m. ET: Stock futures mixed; Nasdaq tracks toward third straight day of gains

Here were the main moves in markets, as of 7:06 a.m. ET:

  • S&P 500 futures (ES=F): 3,359.25, down 8.5 points, or 0.25%

  • Dow futures (YM=F): 27,692.00, down 131 points, or 0.47%

  • Nasdaq futures (NQ=F): 11,184.5, up 9.25 points, or 0.08%

  • Crude (CL=F): -$0.18 (-0.43%) to $42.06 a barrel

  • Gold (GC=F): -$15.20 (-0.77%) to $1,955.20 per ounce

  • 10-year Treasury (^TNX): -1.6 bps to yield 0.7%

6:03 p.m. ET Thursday: Stock futures trade slightly higher

Here were the main moves in equity markets, as of 6:03 p.m. ET:

  • S&P 500 futures (ES=F): 3,371.00, up 3.25 points, or 0.1%

  • Dow futures (YM=F): 27,842.00, up 19 points, or 0.07%

  • Nasdaq futures (NQ=F): 11,187.5, up 12.25 points, or 0.11%

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