Stock futures fell Tuesday evening, kicking off the overnight session lower after a rally.
During the regular session, a bevy of developments helped power the three major indices to their third straight day of gains. These catalysts included encouraging results from a trial showing that the generic drug dexamethasone helped reduce the death risk among patients with severe Covid-19 cases. And earlier reports that the Trump administration was prepping a nearly $1 trillion infrastructure package also helped provide a boost to risk assets.
More promising signs of a speedy economic recovery also contributed to the rally. New economic data Tuesday morning showed retail sales surged by a record 17.7% in May over April, with the pace of increase more than double the rate consensus economists expected. The indicator that consumer spending was recovering sharply after April’s record decline led at least some economists to pare back their expectations for the