Retail Sales In Focus This Week As Investors Come Off Post Election Surge

Investors will be paying attention to latest U.S. retail sales for October released on Tuesday to gain more insight about the level of spending in the retail sector.

Economists from have a consensus estimate that retail sales increased by 0.6 percent in October after retail sales increased by the same level (0.6 percent) in September.

Stock futures are pointing to a mixed open at the start of the week on Monday after stocks enjoyed a nice post election surge last week.

Over the week-end, Donald Trump selected Reince Priebus to be his White House chief of staff. Priebus has been chair of the Republican National Committee and has Washington D.C. political ties.

Trump also selected Steve Bannon to be his chief strategist.

Bannon has served as a close adviser on Trump’s campaign and is a media executive of right wing website Breitbart News.

Bannon’s critics believe he is connected to the alt-right movement and accuse him of espousing anti-Semitic, misogynistic, and racist views on his website.

Some of the other economic data released this week includes inflation reports on Wednesday (Producer Price Index ) and Thursday (Consumer Price Index ) for October.

Housing starts/building permits for October will come into focus on Thursday along with weekly initial and continuing claims, and Philadelphia Fed (Oct.)

Full U.S. Economic Calendar

Monday- None

Tuesday- Retail Sales/Export Prices (October), Business Inventories (Sept.), Empire Manufacturing (Nov.)

Wednesday- PPI (October), Industrial Production/Capacity Utilization (October), NAHB Housing Index (Nov.), Crude Inventories, MBA Mortgage Index

Thursday- CPI (Oct.), Housing Starts/Building Permits (Oct.), Initial/Continuing Claims, Philadelphia Fed (Nov.), Natural Gas Inventories.

Friday- None

Written By:

John Schweitzer




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