Stock Market Today: Dow, S&P 500, Nasdaq Futures Dip as Investors Await Walmart Earnings and Powell Speech

Market Overview: US Stock Futures Slide

On Thursday, May 15, 2025, US stock futures experienced a downturn as investors braced for key economic data and corporate earnings. Futures tied to the S&P 500 (ES=F) fell by approximately 0.5%, while Dow Jones Industrial Average futures (YM=F) declined by 0.4%. The Nasdaq 100 futures (NQ=F) saw a steeper drop of 0.7%, despite a recent streak of six consecutive positive sessions for tech stocks.

The decline follows a period of market optimism driven by developments in US-China trade relations. However, with the initial excitement fading, investors are now focusing on upcoming economic indicators and corporate earnings to gauge the health of the US economy.

Key Economic Indicators to Watch

Investors are eagerly awaiting April's retail sales data, which will provide critical insights into consumer spending trends amid President Trump's evolving trade policies. Strong retail sales could signal resilience in the US economy, while weaker figures might raise concerns about consumer confidence.

Additionally, the Producer Price Index (PPI) for April will offer a fresh perspective on wholesale inflation. This follows the recent Consumer Price Index (CPI) report, which indicated easing inflation pressures despite the introduction of new tariffs. These data points are crucial for understanding how inflationary pressures are evolving in the context of trade policy changes.

Walmart Earnings: A Retail Bellwether

All eyes are on Walmart (WMT), which is set to release its quarterly earnings before the market opens on Thursday. As one of the largest retailers in the world, Walmart's performance is seen as a barometer for the retail sector and consumer spending. The company’s results will shed light on how retailers are navigating tariff-related uncertainties and rising costs.

Walmart’s stock has shown resilience, with a 0.99% gain in recent trading. Investors will be looking for commentary from Walmart’s management on supply chain challenges, pricing strategies, and consumer demand in the face of economic headwinds.

Jerome Powell’s Speech: Clues on Monetary Policy

Federal Reserve Chair Jerome Powell is scheduled to speak at a conference in Washington, and his remarks are expected to draw significant attention. Investors are keen to hear Powell’s perspective on the economy, particularly in light of recent tariff implementations and their potential impact on inflation and growth.

Fed policymakers have emphasized the importance of incoming data in shaping monetary policy decisions. Powell’s comments could provide hints about the Federal Reserve’s stance on interest rates and whether the central bank is leaning toward tightening or maintaining its current policy to support economic stability.

Trade Policies and Market Sentiment

Recent developments in US trade policy have kept markets on edge. President Trump announced that India has offered to eliminate tariffs on US goods, a move that could pave the way for a new trade agreement. While this news has sparked optimism, the broader implications of Trump’s trade policies, including tariffs on other nations, continue to create uncertainty for investors.

The fading euphoria from the US-China trade truce has shifted attention to domestic economic indicators. Markets are now looking for the next catalyst to drive sentiment, with retail sales, inflation data, and corporate earnings at the forefront.

Market Movers: Tech Stocks and Beyond

The Nasdaq has been bolstered by strong performances from tech giants like Nvidia and Super Micro Computer. However, the broader market is facing headwinds as investors reassess growth prospects in light of economic data and policy developments.

Futures data reflects the cautious mood, with the Mini Dow Jones Industrial Average (YM=F) trading at 41,965.00, down 0.36% as of 7:15 AM EDT. Similarly, S&P 500 futures (ES=F) and Nasdaq 100 futures (NQ=F) are down 0.42% and 0.53%, respectively.

What’s Next for Investors?

• Walmart’s earnings report: A potential indicator of retail sector health.


• Retail sales and PPI data: Insights into consumer spending and inflation trends.


• Jerome Powell’s speech: Guidance on the Federal Reserve’s monetary policy outlook.


• Trade policy updates: Developments in US-India and US-China trade relations.

Conclusion

The stock market is at a critical juncture as investors await pivotal economic data and corporate earnings. With Walmart’s earnings, retail sales figures, and Jerome Powell’s speech on the horizon, the coming days will provide valuable insights into the direction of the US economy and financial markets. Stay informed and prepared as these developments unfold.