Stock futures are little changed as investors await retail earnings, Fed minutes: Live updates

1 week ago 11

Traders enactment astatine the New York Stock Exchange connected August 19, 2025.

NYSE

Stock futures are adjacent level Tuesday nighttime arsenic investors braced for net reports from large retailers and the Federal Reserve's latest gathering minutes.

Dow Jones Industrial Average futures added 13 points, oregon 0.03%. S&P 500 futures and Nasdaq 100 futures were besides some small changed.

Stocks are coming disconnected a mixed session. The S&P 500 and Nasdaq Composite fell astir 0.6% and 1.5%, respectively, successful a mostly risk-off day. On the different hand, the Dow was capable to eke retired a razor-thin gain, helped by a post-earnings leap successful Home Depot.

Investors are awaiting July gathering minutes from the Fed owed successful the afternoon. At the time, policymakers erstwhile much held dependable connected involvement rates, but Fed Governors Christopher Waller and Michelle Bowman dissented, marking the archetypal clip 2 voting Fed officials person done truthful since 1993.

That comes up of remarks from Fed Chair Jerome Powell connected Friday, which investors volition show for insights into the way of involvement rates. Fed funds futures are pricing successful a astir 85% likelihood of the cardinal slope cutting involvement rates astatine its adjacent argumentation gathering successful September, according to CME's FedWatch tool.

"We expect this year's Jackson Hole gathering to connection an accidental for Powell to again motion towards monetary easing," said Andrzej Skiba, caput of the BlueBay U.S. Fixed Income squad astatine RBC Global Asset Management. "While determination are immoderate blistery spots successful this month's ostentation reading, it's astir apt not capable to deter the doves connected the committee."

Before the minutes connected Wednesday, traders volition show net reports from Lowe's, Target and TJX Cos. owed earlier the bell.

Longer-dated fixed-income yields astatine hazard of rising, Capital Economics says

Long-dated authorities bonds of 10 years oregon much "have been nether superior unit astatine times this year," acknowledgment to waning request from accepted buyers, "we uncertainty it's coming back," Capital Economics caput of markets for Asia-Pacific Thomas Mathews wrote Tuesday.

The occupation is that cardinal banks themselves — arsenic portion of their determination to normalize monetary argumentation and trim their equilibrium sheets — person stepped backmost from supporting the longer extremity of the marketplace since the days of Quantitative Easing and zero involvement complaint policy.

"They'd provided a cardinal root of request for authorities bonds crossed the curve, and successful galore places held a precise ample stock of the market. Demand has picked up from different sources to offset this simplification successful request from cardinal banks. But, it hasn't mostly been from institutions that typically acquisition very-long-dated authorities bonds," Mathews wrote.

"In the lack of genuine fiscal adjustment, which mostly seems improbable to us, we fishy that the precise agelong extremity of the curve volition stay volatile. And there's a bully accidental that yields emergence volition again, astatine slightest for a while," Mathews added.

— Scott Schnipper

See the stocks moving aft hours

These are immoderate of the stocks making notable after-hours moves:

La-Z-Boy — Shares tumbled much than 21%. The shaper of recliners posted net of 47 cents per share, excluding items, successful the fiscal archetypal quarter, portion analysts polled by FactSet penciled successful 53 cents. The institution besides gave weaker-than-expected guidance for current-quarter revenue.
Toll Brothers — The luxury homebuilder shed 1.6% contempt beating expectations connected some lines for the fiscal 3rd quarter. Toll Brothers earned $3.73 per stock connected $2.88 cardinal successful revenue, portion Wall Street anticipated $3.60 a stock and $2.85 billion, per LSEG.

— Alex Harring