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Tomorrow’s Retail Sales Report headlines this week’s economic calendar as investors get another look at the health of the U.S. consumer.1 After the recent uptick in the unemployment rate, economists will be watching for any signs of a slowdown in consumer spending. June retail sales are expected to show a 0.3% decline after May’s modest 0.1% gain.2
Regional bank earnings out this week, including PNC Financial, State Street and M&T Bank, will also be an important test for the markets.3 Investor concerns linger about the health of the regional bank sector following the significant stress witnessed during the first half of 2023.
Sources:
1MarketWatch – U.S. Economic Calendar; as of 7/15/24
2Bloomberg
3Kiplinger – Earnings Calendar and Analysis for This Week (July 15-19); as of 7/15/24
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