US stock futures rebound after retail sales but RBC cuts 2025 price target

S&P 500 futures are back to flat on the day as the bull try to hang onto Friday’s 117 point gain.

Futures improved after a mixed US retail sales report. The headline was soft but the control group was strong, despite downward revisions. I’m tempted to think it was a ‘bad news is good news’ move but Federal Reserve rate cut pricing for further out in the year hasn’t improved.

I’m skeptical of this move but the bulls could be looking for opportunities to buy the dip and starting to FOMO after the big jump on Friday.

Perhaps a contrarian positive indicator comes from RBC, which cut its year-end price target in the S&P 500 to 6200 from 6600. Notably, even the ‘cut’ level is still 10% above spot.

This article was written by Adam Button at www.forexlive.com.