June Retail Sales Beat Expectations, Boosting Market Optimism
TL;DR Summary
U.S. retail sales stagnated in June 2024, leading traders to fully price in a September interest rate cut. Fed Chair Jerome Powell's dovish comments and recent inflation data have increased confidence in a rate reduction. Despite the flat overall retail sales, certain categories like nonstore retailers and building materials saw gains. The U.S. dollar and Treasury yields slightly rebounded following the data release.
- June Retail Sales Stagnate: Traders Fully Price In September Interest Rate Cut Benzinga
- Stocks surge after retail sales data shows Americans are still shopping CNN
- Retail sales come in better than expected in June Yahoo Finance
- Retail sales report tests timing of Federal Reserve rate-cut bets TheStreet
- IMF forecast and retail sales data show U.S. economic resilience Axios
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