The Important Question in a Noisy Market
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What’s in Today’s Report:
- The Important Question in a Noisy Market
Futures are slightly higher mostly on momentum as markets again ignore disappointing retailer earnings.
Hugo Boss became the latest retailer to post poor results and cut guidance as anecdotal warnings on consumer spending continue to grow.
The only notable economic number overnight was the German ZEW Sentiment Index and it met expectations.
Today focus will stay on economic data and earnings. The key economic report today (and of the week) is Retail Sales (E: -0.3%) and if that number is weaker than expected, look for concerns about a slowdown to grow (although that likely won’t hit stocks immediately as bad data is still good for stocks). We also get the Housing Market Index (E: 43) and one Fed speaker, Kugler (2:45 p.m. ET), but they shouldn’t move markets.
On the earnings front the season continues to heat up and reports we’ll be watching today include: BAC ($0.79), UNH ($6.65) and MS ($1.65).
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