At 8:30 a.m. ET, we’ll get the June reading of U.S. retail sales.
Economists are looking for 0.8% growth, and 0.4% excluding autos and gas.
“June retail sales should post the largest monthly increase in four months,” said Credit Suisse Neal Soss.
“The stronger end to Q2 would lay the foundation for a speed-up in consumer spending in Q3 (our baseline view). Auto sales should drive the gain in June, after unit sales rose to the highest level in almost six years. Underlying details also should look solid using chain store results as a guide. Gasoline should not be a large swing factor given the small uptick in prices over the month.”
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