Dow futures steady as stronger data dampens sentiment

Investing.com - US stock futures were trading in a tight range on Wednesday night, as an uptick in retail sales data pushed indices lower during the regular session.

By 6:50 pm ET (11:50 pm GMT) Dow Jones Futures and S&P 500 Futures were flat while Nasdaq 100 Futures slipped 0.1%.

In extended deals, Discover Financial Services (NYSE:DFS) dipped 10.2% after the company reported Q4 EPS of $1.54 versus $2.53 expected, while revenues were reported at $4.2 billion versus $4.11 billion expected.

H B Fuller Company (NYSE:FUL) fell 1.8% after reporting Q4 EPS of $1.32 versus $1.27 expected while revenues came in at $903 million versus $930.59 million expected.

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On the economic data front, Thursday morning will see the release of weekly jobless claims, housing starts, and building permits data. Raphael Bostic, the President of the Atlanta Federal Reserve, is also scheduled to speak.

Among earnings, companies including Taiwan Semiconductor Manufacturing (NYSE:TSM), Truist Financial Corp (NYSE:TFC), PPG Industries Inc (NYSE:PPG) and JB Hunt Transport Services Inc (NASDAQ:JBHT) are set to report quarterly results.

During Wednesday's regular session, the Dow Jones Industrial Average fell 94.45 points, or 0.25%. The S&P 500 slid 0.56%, while the NASDAQ Composite lost 0.59%.

Investors expressed concerns that a strong December retail sales report, indicating a robust consumer, could result in the Federal Reserve implementing fewer rate cuts than many are anticipating.

As per the CME FedWatch Tool, markets are currently pricing in approximately a 56% chance of a quarter percentage point rate cut in March.

On the bond markets, United States 10-Year rates were at 4.107%.