Retail sales, Citi earnings on tap
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.