US stocks held steady near record highs on Tuesday, as investors biding their time for Nvidia results looked to retail earnings and Fedspeak for clues to the economy. S&P 500 futures were little changed after the benchmark closed just a hair short of the all-time high it scored last week. Futures on the Dow Jones Industrial Average and the tech-heavy Nasdaq 100 also hugged the flatline. Investors are looking to corporates for a cue in the absence of top-level economic data releases.
In the meantime, investors get a wave of quarterly reports from retailers to scrutinize for a steer on consumer spending and the health of the economy. Lowe's sales dropped less than expected as cash-strapped Americans continued to spend on small repairs, while Macy's shares gained after the department store chain's earnings beat a low bar. AutoZone and Urban Outfitters are also on the docket.
Source: News Formal (newsformal.com)
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