US retail sales: the key focus of markets today

Monthly US retail sales data release will be released before the bell.

Consumer spending accounts for nearly 70% of U.S. GDP. The U.S. retail sales data is not only a barometer of the U.S. economy, but also a measurement reference used by the Federal Reserve for policy.

In May, the inflation-cased rise in commodity prices dragged down the consumption willingness, resulting in lower-than-expected consumption data

The consensus is for June retail sales to see a monthly increase of 0.8% after the 0.3% drop in May.

US retail sales: the key focus of markets today

The key is how the Fed interprets them. Strong retail sales data could underpin the reasons for a sharp rate hike later this month, and vice versa.

Qiuz of Today

Q1: Which index represents the overall performance of the U.S. stock market?

A. $S&P 500 Index (.SPX.US)$

B. $Dow Jones Industrial Average (.DJI.US)$

C. $Nasdaq Composite Index (.IXIC.US)$

D.Lean more: Investing 101

Q2: Guess the stock name of following chart (hint: a retail stock)

Over the past month, the stock has rebounded nearly 10% from its recent lows, while the S&P 500 has fallen about 8%.