“SNEAK PEEK AT NEXT WEEK” APPEARS ON FRIDAYS
MONDAY: Another slow week ahead for economic news, but lots of national retailers will be reporting earnings this week and could be more insightful than official Retail Sales which are reported on Wednesday
TUESDAY: Pre-open futures are down strongly as bond rates continue to spike, as they seem to indicate that they know something about timing that the rest of those don’t. These kind of strong pre-open moves tend to persist and set the tone for the day, although there was an exception in the past month.
WEDNESDAY: Today begins a flurry of retail sales reports in addition to the government’s Retail Sales Report. Those numbers may tell us whether the bond market is on the right course.
THURSDAY: More disappointment as this morning’s retail sales earnings reports continue being released, adding to yesterday’s disappointments. The pre-open futures likes it, though, and in a big way, as it spells interest rate increases will be coming later, rather than sooner.
FRIDAY: A more sedate open in store to end the week, as the S&P 500 closed yesterday at another new high fueled by disappointing retail sales being perceived as delaying interest rate increases. Now what?