Stock Futures Retreat Off Record Highs Ahead of Inflation, Housing and Manufacturing Data
Stock futures are marginally lower into Tuesday's open, backing off recent record highs ahead of today's inflation and production data, and in sympathy with a broader sell-off in global equities.
Wall Street is also bracing for the latest inflation data, as well as statistics on the housing market and manufacturing sector.
Consumer prices are expected to be unchanged in July, but higher by 0.2% excluding the food and fuel segment. Housing starts are projected to decline by 0.7% last month to a seasonally-adjusted annual rate of 1.180 million, while permits should rise 0.6% to a SAAR of 1.160 million.
Lastly, industrial production is expected to have increased 0.3% in July, as capacity utilization rises to 75.5% from 75.4% in June.
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