U.S. stock futures gained, signaling benchmark indexes may trim a third straight weekly decline, as the biggest increase in retail sales in four months tempered concern the economy is slowing.
Stock futures have moved to morning highs following the latest retail sales figures. Specifically, overall retail sales increased by 0.5% during July. Sales less autos also increased by 0.5%. The consensus among economists had called for increases of 0.5% and 0.2%, respectively. Data for the prior month was revised upward to reflect a 0.3% increase in total sales after it had been initially reported as a 0.1% increase. Sales less autos increased in June by 0.2%, which is an improvement from the flat reading that had been offered originally.