Stock futures held lower on Friday even after better-than-expected numbers on U.S. retail sales and consumer prices.
S&P 500 futures were down 0.16%, Dow Jones Industrial Average futures fell 0.11%, and Nasdaq futures slid 0.1%.
Retail sales rose at a healthy pace in April, a promising sign that recent strength in consumer confidence had begun to translate to spending. U.S. retail sales increased 0.4%, slightly weaker than an expected increase of 0.5%. Sales were up 4.5% compared to a year earlier. March's monthly decline of 0.2% was revised to show a 0.1% increase.
Consumer prices rose in April, rebounding from weakness seen a month earlier. The Consumer Price Index rose 0.2%, driven by increases in energy costs. The CPI had fallen 0.3% in March. Energy prices increased 1.1% in April. Excluding food and energy, core prices rose 0.1%.
Nordstrom (JWN - Get Report) fell 4% in premarket trading despite better-than-expected first-quarter profit. Same-store sales, however, came in below analysts' projections.
Net income of 31 cents a share beat estimates by 4 cents. Revenue rose 3.1% to $3.35 billion, edging past consensus by $10 million. Comparable-store sales fell 0.8%, more than analysts' forecasts of a decline of 0.1%.
J.C. Penney (JCP - Get Report) tumbled more than 5% before the bell after falling short of sales estimates. Revenue declined to $2.7 billion from $2.8 billion, missing analysts' estimates for a flat reading. Same-store sales declined by 3.5%, far steeper than an anticipated decline of 0.7%. The department store chain anticipates full-year same store-sales to come in 1% lower to 1% higher.
The Nasdaq broke its four-day record-making streak on Thursday as a disappointing quarterly performance from Snap (SNAP - Get Report) pulled tech names lower. The S&P 500 and the Nasdaq both narrowly set new record closes on Wednesday as volatility held at its lowest level in more than two decades.
Cocktails & Cramer
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