U.S. stock index futures were little changed on Tuesday, as investors digested softer-than-expected retail sales data while keeping their focus firmly on a busy corporate earnings calendar.
By 08:42 ET (13:42 GMT), Dow Jones futures hovered just below the flatline at 50,112 points. The blue-chip Dow Jones Industrial Average surged past the 50,000 mark for the first time ever last Friday and managed to hold above the milestone in Monday’s session.
S&P 500 futures dipped 0.1% to 6,961.9 points, while Nasdaq 100 futures were broadly unchanged.
Wall Street’s main indices extended gains on Monday, building on a strong rebound late last week. The rally has been largely fueled by a recovery in technology stocks tied to the artificial intelligence-driven expansion in data center investment, which has helped stabilize broader market sentiment.
Earnings season remains in focus
The earnings season continues to dominate investor attention, with results due later Tuesday from major names including Coca-Cola (NYSE:KO), Spotify (NYSE:SPOT) and Hasbro (NASDAQ:HAS).
The fourth-quarter 2025 earnings season is well underway, and while aggregate results have generally been supportive, markets are becoming increasingly selective. Companies delivering strong earnings and confident outlooks are being rewarded, while those posting weaker results or cautious guidance are facing swift selloffs.
In extended trading, ON Semiconductor (NASDAQ:ON) weighed on sentiment after reporting disappointing fourth-quarter revenue, citing an ongoing inventory glut. The chipmaker said customers were still drawing down excess stockpiles built during earlier supply chain disruptions. Sluggish electric vehicle demand and intensifying competition from Chinese producers have also clouded the outlook for its silicon carbide business, while its current-quarter sales guidance came in below Wall Street expectations at the midpoint.
Retail sales stall; key data ahead
On the macro front, investors are bracing for a series of high-impact U.S. economic releases that were delayed by a recent government shutdown.
The closely watched monthly jobs report is now scheduled for Wednesday, followed by the January consumer price index (CPI) on Friday. Both reports are expected to play a crucial role in shaping expectations for the Federal Reserve’s policy outlook, particularly around the timing and pace of any interest rate cuts later in the year.
Ahead of those releases, data published Tuesday showed U.S. retail sales were unexpectedly flat in December. Headline retail sales were unchanged month-on-month, missing forecasts for a 0.4% increase. Core retail sales, excluding autos, gasoline, building materials and food services—also showed no growth, undershooting expectations for a similar 0.4% rise.
The data point to a softer end to the year for consumer spending, a key pillar of U.S. economic growth, and added a note of caution to an otherwise resilient market backdrop.
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