U.S. stock index futures fell on Thursday after a surprise drop in China's retail sales signaled a bumpy economic recovery, with investors now turning to the next set of quarterly bank earnings and economic data to gauge the pace of a domestic rebound.
U.S. retail sales for June and weekly jobless claims, both due at 8:30 a.m. ET, are likely to show the economy continuing to limp out of a coronavirus-driven slump as several states eased lockdowns from May.But a recent surge in domestic coronavirus cases have forced states such as California to shut down again, sparking fears of more economic damage and slowing the pace of a Wall Street rally.
At home, Bank of America Corp shares edged lower after it reported a more than 50per cent decline in second-quarter profit, setting aside US$4 billion for potential loan losses tied to the coronavirus pandemic. Diversified manufacturer Honeywell and medical device maker Abbott Laboratories are also slated to report their quarterly results on Thursday.