Retail sales, jobless claims on tap
David Russell | [email protected]
Both releases are scheduled for 8:30 a.m. ET. Economists estimate that retail sales climbed 0.3 percent in May, up from 0.1 percent in April. Stronger readings could be bullish while weaker numbers could hurt sentiment, especially toward consumer-discretionary stocks.
Initial jobless claims are expected to total 345,000 versus 346,000 in the previous week. A higher reading could be bearish because it would mean that more Americans lost their jobs.
In addition to claims and retail sales, export and import prices will be reported at the same time. Those numbers don't usually affect market sentiment.
Tomorrow's agenda brings consumer sentiment, industrial production, and the purchasing-price index.
Next week features the German Zew survey of financial-market sentiment, housing starts, the Federal Reserve's interest-rate decision, and regional Fed economic surveys.