@ Wall Street
June retail sales: This will likely close out the second quarter on a soft note, with weaker sales of automobiles and lower service station sales as gasoline prices fell. There are hints that sales at department and apparel stores were active, and that consumers continued to shop for bargains elsewhere.
Most probably the softness in the auto component be attributed at least partly to limited availability of the most sought-after fuel-efficient cars, which offers some prospect of a turnaround as manufacturers catch up in supplies going forward.
The back-to-back-to-back release of the inflation reports should confirm the Fed's expectation that gains in food and energy prices are transitory, but there will still be some signs of increases at the core.
The Producer Price Index for June should indicate that price pressures in the pipeline are easing, but that some pass-through has occurred at the finished goods stage.
The financial sector sees reports from JPMorgan and tech sector will follow with Google´s quarterly report.
