Despite today’s disappointing June retail sales report, markets are holding up well.
Should stocks close in the green, it would mark new all-time highs for the S&P 500 and the Dow.
Retail sales climbed by just 0.4% in June, missing economists estimates for 0.8% growth by a wide margin. Excluding strong auto sales, there was no growth.
The new numbers had economists across Wall Street immediately slashing their forecasts for Q2 GDP growth.
More to come…
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