U.S. stock futures drifted on Wednesday, ahead of fresh data on January’s retail sales and the notes from Federal Reserve policy makers’ latest meeting.
Futures tied to Dow Jones Industrial Average futures wavered between gains and losses. The blue-chips index on Tuesday closed at a record. Contracts on the S&P 500 edged down 0.1%, while futures on the technology-heavy Nasdaq-100 fell 0.2%.
Stocks have been muted in recent days after a rally that saw the major indexes notch record highs. A deadly winter storm has left millions of Americans without power this week. At least 20 people have died, according to the Associated Press. With electrical grids facing strain because of the extreme weather, rolling blackouts have been instituted in a number of states.
Investors say they remain optimistic. Money managers are focused on fresh stimulus measures from President Biden’s administration and measures to contain the coronavirus pandemic.
“The vaccine rollout is picking up pace, Covid cases are going down, and at the same time, you have the administration going full throttle toward a massive relief package that will come very close to President Biden’s $1.9 trillion figure,” said David Donabedian, chief investment officer at CIBC Private Wealth Management.
