Stocks were poised to hold at record highs after the latest U.S. retail sales data climbed, potentially tempering some concerns about a retrenchment in consumer spending.
Rita Nazareth for Bloomberg News:
S&P 500 futures rose 0.1%. The yield on two-year Treasuries was little changed at 3.73%. A dollar gauge slid. Oil drifted lower as investors awaited a face-to-face summit between Donald Trump and Vladimir Putin in Alaska due to start at 3 p.m. New York time.
US retail sales rose in July in a broad-based advance, boosted by car sales and major online promotions in a sign consumers stepped up their spending in recent months.
The value of retail purchases, not adjusted for inflation, increased 0.5% after an upwardly revised 0.9% gain in June, Commerce Department data showed Friday. Excluding cars, sales climbed 0.3%.
MacDailyNews Take: Apple is currently trading at 233.14 in pre-market action. AAPL’s all-time high is $260.10, set on December 26, 2024.
Please help support MacDailyNews — and enjoy subscriber-only articles, comments, chat, and more — by subscribing to our Substack: macdailynews.substack.com. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
The post Stocks set to hold at record highs on solid U.S. retail sales appeared first on MacDailyNews.
