Stocks futures see minimal movements

US stock futures barely moved on Thursday as traders digested retail sales data that indicated a robust economy. Futures tied to the S&P 500 and Nasdaq-100 were almost flat, while Dow Jones futures declined less than 0.1%.

Roku shares surged 9% after beating analysts’ sales estimates and posting a narrower loss than anticipated in the latest quarter. Meanwhile, Cisco Systems shares rose 4% after reporting financial results that surpassed forecasts on the top and bottom lines.

The stocks had modest gains on Wednesday, even after January’s stronger-than-expected retail sales report indicated that the Federal Reserve might need to work harder to control inflation. The Dow Jones Industrial Average added 38.78 points, or 0.11%, while the S&P 500 climbed 0.28%. The Nasdaq Composite rose for the third consecutive day, gaining 0.92%.

Market observers believed that stocks could continue to rise after a strong start to the year. Victoria Greene, chief investment officer at G Squared Private Wealth, said that the market rally has legs, and technical analysis indicates that the rally is in.

On Thursday, Wall Street anticipates more economic insight from several reports. The January producer price index, another inflation measure, will be released, and Dow Jones estimates indicate a 0.4% increase compared to December’s 0.5% decrease.

Weekly jobless claims data, as well as the January housing starts report, are also due to be released. While the market is awaiting these reports, traders are also keeping a close eye on the rising bond yields and any comments from Federal Reserve officials.

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