REUTERS: U.S. stock index futures treaded water on Tuesday as investors paused after a three-day run that was driven by hopes that major economies would act to counter a global economic downturn.
A clutch of retail earnings this week will test the health of U.S. consumer demand. Home Depot Inc beat quarterly profit estimates but cut its full-year sales forecast, citing potential impact of the trade war on consumer spending. Target , Lowe's and Nordstrom report later this week. Powell's remarks will be closely monitored for hints if more policy easing is in store, especially as the U.S.-China trade war seems far from resolved and growing fears of recession, signaled by the inversion of the U.S. yield curve last week.Even as Powell classified last month's interest rate cut as a"mid-cycle" policy adjustment, traders are currently fully pricing in another rate cut in September.
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