Retail sales at 8:30 a.m. ET are the main event on today's
Economists expect the Commerce Department to report an increase
of 0.7 percent for June, up from 0.6 percent in May. Excluding
vehicle sales, growth is forecast at 0.4 percent, compared with
0.3 percent the previous month.
The other big event of the morning will be the release of
Citigroup's second-quarter results at approximately 8 a.m.
The New York Federal Reserve will announce its regional Empire
Manufacturing index at 8:30 a.m. A reading of 3.6 is expected,
down from 7.8 in June.
Business inventories will also be released at 10 a.m. ET, but are
unlikely to impact sentiment because they cover the now-past
month of May.
Tomorrow's main events include the German ZEW survey of
financial-market sentiment early in the morning, followed by
consumer prices and industrial production in the United States.
Goldman Sachs, Johnson & Johnson, Mosaic and Coca-Cola will
also release quarterly results in the morning and Yahoo follows
after the closing bell.
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