Highlights
Another busy day for economic indicators kicks off with retail sales, Philadelphia Fed manufacturing, and jobless claims at 8:30 am ET. Expectations for retail sales call for an increase of 0.3 percent for June with sales excluding autos down 0.1 percent. Philly Fed index expected at 14.0 in July versus 10.3 in June. Claims are expected at 220K in the latest week, up from 215 a week ago.
Oil futures are off their recent highs today and steadier after huge rally in recent days. No reason to expect they won't continue higher given the debacle in the Persian Gulf. President Trump to make unusual televised address at 9 pm ET and that is always a wild card for financial markets.
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