Dow Jones Futures Jolt After Fed Minutes: 3 Must-Watch Stocks Before the Opening Bell

Dow Jones futures slipped 0.1% to hover near 39,450 in pre-market trading Tuesday, signaling a cautious open as Wall Street braces for a deluge of retail-sector earnings and the Federal Reserve’s policy symposium in Jackson Hole later this week. S&P 500 and Nasdaq 100 futures were little changed, reinforcing the wait-and-see mood after Monday’s muted cash-session finish. Traders are zeroing in on quarterly results from Walmart, Target, Lowe’s and Macy’s, which will offer a fresh read on the strength of the U.S. consumer just as back-to-school spending ramps up. After Home Depot’s mixed report last week, any disappointing guidance from big-box peers could amplify concerns that higher borrowing costs and sticky inflation are squeezing household budgets. Macro catalysts are also piling up. Federal Reserve Chair Jerome Powell is scheduled to speak Friday at Jackson Hole, and investors want clarity on whether policymakers still expect just one more rate cut this year, as Fed funds futures now imply. Treasury yields eased overnight— the 10-year note briefly slipped below 4.20%— helping rate-sensitive megacap tech stocks stabilize. Oil prices traded around $79 a barrel amid mixed signals on global demand, while the U.S. Dollar Index oscillated near a seven-week high. A firmer greenback traditionally weighs on multinational earnings, so currency commentary could feature prominently on upcoming conference calls. Technically, the Dow Jones Industrial Average futures contract continues to respect support near its 50-day moving average at 39,300; a decisive break below that zone could open the door to June’s pivot low near 38,800. On the upside, resistance looms at the record intraday peak of 40,685 set earlier this month. Market sentiment is also being shaped by options positioning ahead of Friday’s monthly expiration. With the CBOE Volatility Index stuck around 13, dealers remain short gamma, raising the odds of a sharper swing if any macro headline surprises. Key data to watch later in the session include July existing-home sales and the Richmond Fed manufacturing survey. Overnight, European bourses were modestly lower and Asian benchmarks ended mixed, offering little directional impulse to U.S. futures. Bottom line: Dow Jones futures are drifting lower but orderly as investors balance softening economic data against resilient corporate profits. A steady stream of retail earnings, coupled with Powell’s remarks, could determine whether the blue-chip index mounts another push toward all-time highs or retraces to stronger technical support in the days ahead.