The market has been laser-focused on inflation for the past year but as prices cool and inflation nears target, the focus will shift to economic strength and for clearer signs of a recession. One of the best economic indicators for the health of the US economy is retail sales and it will be the focus
A few more economic releases expected in the new trading day in Asian. At 7:01pm ET, the UK’s BRC Retail Sales Monitor is forecast to come in at a year-on-year (y/y) increase of 3.0%, down from the previous 4.2%. At 7:30pm ET, Japan’s Average Cash Earnings for June are projected to report a 3.0% y/y
Last week’s positive news included strong earnings from Wall Street heavyweights Amazon and Alphabet. However, disappointing Apple earnings resulted in a 4.8% drop in its stock and helped lead to declines on Friday. Nevertheless, over 79% of S&P 500 companies have exceeded estimates for Q2 so far, the highest rate since Q3 2021. The major
