Dow Jones futures remain largely unchanged ahead of the release of US Retail Sales data.

Last Updated on 14/08/2026

• Dow Jones futures remain subdued as investors await the release of key US July Retail Sales data.
• Weaker-than-expected PPI figures reduced expectations for a September Fed rate hike to 34.8%.
• The S&P 500 hit a fresh record high, while major US indexes ended Thursday with strong gains.

Dow Jones futures remain broadly unchanged around 53,910 during European trading on Friday, while S&P 500 futures hover near 7,820 and Nasdaq 100 futures edge down 0.09% to around 30,160.

US stock futures are trading in a narrow range as investors await July Retail Sales data, which could provide fresh clues about the Federal Reserve’s next policy move. Cooling inflation has weighed on expectations for a September rate hike, with the CME FedWatch Tool now showing a 32.4% probability, down from 40.6% after the latest inflation figures.

The shift follows weaker-than-expected US producer inflation. The Bureau of Labor Statistics reported that headline PPI was unchanged in July, below expectations for a 0.2% increase and following a revised 0.1% decline in June. Core PPI rose 0.2%, slightly below the 0.3% forecast. On a yearly basis, headline PPI increased 4.7%, while core PPI climbed 4.2%.

The softer inflation backdrop has added to the bullish momentum from Thursday, when major US indexes posted strong gains. The S&P 500 advanced 0.65% to a fresh record high, while the Nasdaq Composite gained 0.81%, putting both indexes on track for a third straight weekly advance. The Dow Jones Industrial Average added 70 points but remains set for a weekly decline.

Market rally broadens beyond mega-cap technology

Deutsche Bank strategists noted that the latest equity rally was supported by a recovery in the Magnificent 7, which gained 1.20%, alongside broader strength across technology stocks. The Nasdaq rose 0.81%, while the Philadelphia Semiconductor Index advanced 0.46%.

More importantly, the equal-weighted S&P 500 gained 0.74% and also reached a new record high, suggesting that the market’s gains are broadening beyond the largest technology companies and spreading across a wider range of stocks.