U.S. stock futures were flat Thursday after stronger-than-expect retail sales data.
. Sales increased 0.7% for the month compared with estimates of a 0.8% decline. In a separate report, initial jobless claims for the week ended Sept. 11 came in higher than expected, rising to 332,000 from the prior week's pandemic-era low, which was revised slightly higher to 312,000.
Investors are looking at Thursday's data for signals on how the economy is weathering Covid and how that might figure into the's thoughts on when to start tapering bond purchases. Central bankers are set to hold their two-day September meeting next week. The Fed's policy statement next Wednesday and Fed chief Jerome Powell's news conference are wild cards during an already particularly weak period for stocks. Historically, the bulk of September's losses come in the back half of the month. In fact, it appears the S&P 500 usually peaks around the 17th day of the month, which is this Friday.So far in September, the index was down nearly 1%. The Dow and Nasdaq, for the month, were down 1.5% and 0.6%, respectively.
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