While the pre-summer doldrums have seen stocks slowly grind higher, many investors are looking ahead to key economic data that may provide clues as to the next move in equities.
The relative dearth of major releases this week has everyone’s sights set on May retail sales data, which is scheduled to be released Thursday morning.
The consensus estimate for retail sales in May is a gain of 0.70 percent, after April’s relatively modest 0.1 percent increase. An actual reading that meets or exceeds those estimates will likely put consumer discretionary and select retail ETFs back in the spotlight, after playing catch-up last month.
While major indices such as the SPDR S&P 500 ETF (NYSE: SPY) have recently broken ...
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