WASHINGTON (dpa-AFX) - The major U.S. index futures are currently pointing
to a roughly flat open on Tuesday, with stocks likely to experience choppy
trading after ending the previous session sharply higher.

The futures remained little changed after the Commerce Department released a
report showing retail sales in the U.S. inched up slightly less than expected in
the month of May.

The Commerce Department said retail sales crept up by 0.1 percent in May after
dipping by a revised 0.2 percent in April.

Economists had expected retail sales to rise by 0.2 percent compared to the
unchanged reading originally reported for the previous month.

Excluding an increase in sales by motor vehicle and parts dealers, retail sales
edged down by 0.1 percent in May after slipping by a revised 0.1 percent in
April.

Economists had expected ex-auto sales to climb by 0.2 percent, matching the
increase originally reported for the previous month.

Overall trading activity may be somewhat subdued ahead of the Juneteenth holiday
on Wednesday, when the markets will be closed.

However, it is worth noting, stocks showed a lack of direction in early trading
on Monday before significant buying interest emerged and lifted the markets to
new record highs.

Stocks showed a lack of direction early in the session on Monday but moved
notably higher over course of the trading day. The major averages all moved to
the upside, with the Nasdaq and the S&P 500 reaching new record closing highs.

The major averages pulled back off their best levels going into the close but
remained firmly positive. The Nasdaq jumped 168.14 points or 1.0 percent to
17,857.02, the S&P 500 advanced 41.63 points or 0.8 percent to 5,473.23 and the
Dow climbed 188.94 points or 0.5 percent to 38,778.10.

Traders initially seemed reluctant to make significant moves as they took a
moment to assess the recent activity in the markets and the near-term outlook.

Buying interest emerged over the course of the session, however, with stocks
potentially benefiting from the positive sentiment generated last week.

Tamer-than-expected inflation data led to strong gains by the Nasdaq and the S&P
500 last week, although the narrower Dow bucked the uptrend.

While Federal Reserve officials forecast just one interest rate cut this year
following last Wednesday's monetary policy meeting, traders remain hopeful the
predictions will turn out to be overly conservative if inflation continues to
slow in the coming months.

On the U.S. economic front, the Federal Reserve Bank of New York released a
report showing New York manufacturing activity contracted at a notably slower
rate in the month of June.

The New York Fed said its general business conditions index climbed to a
negative 6.0 in June from a negative 15.6 in May, although a negative reading
still indicates contraction. Economists had expected the index to rise to a
negative 9.0.

Despite the continued contraction in current activity, the New York Fed said
optimism about the six-month outlook picked up to its highest level in more than
two years.

Oil service stocks moved sharply higher along with the price of crude oil, with
the Philadelphia Oil Service Index surging by 2.1 percent after ending last
Friday's trading at a four-month closing low.

Considerable strength also emerged among computer hardware stocks, as reflected
by the 2.0 percent jumped by the NYSE Arca Computer Hardware Index.

Airline stocks also showed a significant move to the upside on the day, driving
the NYSE Arca Airline Index up by 1.7 percent.

Semiconductor, banking and software stocks also saw notable strength, while
utilities and telecom stocks bucked the uptrend.

Commodity, Currency Markets

Crude oil futures are inching up $0.03 to $80.36 a barrel after surging $1.88 to
$80.33 a barrel on Monday. Meanwhile, after slumping $20.10 to $2,329 an ounce
in the previous session, gold futures are edging up $3.70 to $2,332.70 an ounce.

On the currency front, the U.S. dollar is trading at 157.73 yen compared to the
157.74 yen it fetched at the close of New York trading on Monday. Against the
euro, the dollar is valued at $1.0729 compared to yesterday's $1.0734.

Asia

Asian stocks advanced on Tuesday after a rally in several technology shares
drove Wall Street to another record high overnight.

The dollar took a breather ahead of key U.S. retail sales and business activity
data as well as speeches from several Federal Reserve officials due this week.
Gold was little changed, while oil consolidated recent gains.

China's Shanghai Composite Index rose 0.5 percent to 3,030.25 despite rising
China-EU trade tensions. China has opened a trade probe into pork imported from
Europe a week after the EU imposed extra tariffs on Chinese electric vehicles.

Hong Kong's Hang Seng Index ended 0.1 percent lower at 17,915.55 after a choppy
session.

Japanese markets bounced back after suffering heavy losses in the previous
session. The Nikkei 225 Index rallied 1.0 percent to 38,482.11 as Bank of Japan
Governor Kazuo Ueda hinted at the possibility of an upcoming interest rate
increase in July. The broader Topix Index finished 0.6 percent higher at
2,715.76.

Chip-making equipment maker Tokyo Electron jumped 2.7 percent and electronic
parts maker TDK surged 6.3 percent.

Toyota Motor rose half a percent after Akio Toyoda, grandson of Toyota Motor
Corp's founder, won shareholders' approval to stay at the automaker's helm.

Seoul stocks rose notably after the country's central bank chief hinted at
easing inflation with potential interest rate cuts by year-end. The Kospi
climbed 0.7 percent to 2,763.92.

Australian markets rallied as the Reserve Bank held rates steady but cautioned
that inflation is still above the target. The benchmark S&P/ASX 200 Index jump
1.0 percent to 7,778.10, while the broader All Ordinaries Index advanced 0.9
percent to 8,015.80.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 Index gained 0.6 percent
to close at 11,767.40.

Europe

European stocks have eked out modest gains on Tuesday after Eurozone CPI was
finalized at 2.6 percent year-on-year in May, up from April's 2.4 percent as
widely expected.

The headline German ZEW Economic Sentiment Index ticked up to 47.5 in June from
47.1 in May, while industry data showed U.K. grocery inflation fell for a
sixteenth month in a row in June.

While the German DAX Index has risen by 0.3 percent, the French CAC 40 Index and
the U.K.'s FTSE 100 Index are both up by 0.5 percent.

In corporate news, Novonesis has surged after the Danish biotechnology group
raised its full-year outlook, citing rising demand for its biosolutions.

Electric equipment and automation systems maker Schneider Electric has also
moved to the upside in Paris after Jefferies upgraded the stock's rating to
'buy' from 'hold'.

Whitbread has also rallied in London. The British hotel group reiterated its
annual forecast despite posting flat first quarter sales.

Frasers Group has also advanced after launching a new share buyback program of
up to £80 million to reduce share capital of the company.

Meanwhile, Carrefour shares have plunged after reports that the finance ministry
wanted to levy a 'record fine' against the supermarket group for management of
its franchise network.

Equipment rental firm Ashtead Group has also moved sharply lower after it
forecast slower growth in rental revenue for fiscal 2025.

U.S. Economic Reports

Retail sales in the U.S. inched slightly higher in the month of May, according
to a report released by the Commerce Department on Tuesday.

The Commerce Department said retail sales crept up by 0.1 percent in May after
dipping by a revised 0.2 percent in April.

Economists had expected retail sales to rise by 0.2 percent compared to the
unchanged reading originally reported for the previous month.

Excluding an increase in sales by motor vehicle and parts dealers, retail sales
edged down by 0.1 percent in May after slipping by a revised 0.1 percent in
April.

Economists had expected ex-auto sales to climb by 0.2 percent, matching the
increase originally reported for the previous month.

At 9:15 am ET, the Federal Reserve is scheduled to release its report on
industrial production in the month of May. Industrial production is expected to
rise by 0.3 percent in May after coming in unchanged in April.

The Commerce Department is due to release its report on business inventories in
the month of April at 10 am ET. Business inventories are expected to increase by
0.3 percent in April after edging down by 0.1 percent in March.

Also at 10 am ET, Richmond Federal Reserve President Thomas Barkin is scheduled
to participate in a MNI Webcast discussion.

Boston Federal Reserve President Susan Collins is due to speak before the
Lawrence Partnership Annual Meeting & 10th Year Anniversary at 11:40 am ET.

At 1 pm ET, the Treasury Department is scheduled to announce the results of this
month's auction of $13 billion worth of twenty-year bonds.

Dallas Federal Reserve President Lorie Logan is also due to participate in a
moderated question-and-answer session before the Headliners Club Speaker Series
at 1 pm ET.

Also at 1 pm ET, St. Louis Federal Reserve President Alberto Musalem is
scheduled to speak at a CFA Society St. Louis luncheon.

Chicago Federal Reserve President Austan Goolsbee is due to participate in an
'Economic and Monetary Policy' panel before the 2024 Marshall Forum at 2 pm ET.



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