U.S. Retail Sales Likely To Recover In June, Here's The Major Macro Issues For Friday

U.S. stocks closed mixed on Thursday following downbeat earnings results from JPMorgan Chase & Co. JPM and Morgan Stanley MS.

Below is a look at the major economic reports scheduled for release today.

• Data on retail sales for June will be released at 8:30 a.m. ET. Retail sales came in disappointing for May, declining 0.3%. However, a return to the plus side is projected for June with analysts expecting a 0.9% rise in sales.
• The Empire State manufacturing index for July is scheduled for release at 8:30 a.m. ET. The Empire State index is likely to hold in steady, with analysts expecting a slight contraction to minus 1.3 in July compared to minus 1.2 in June.
• Data on import and export prices for June will be released at 8:30 a.m. ET. Analysts expect a monthly increase of 0.7% in import prices and a monthly rise of 1.0% for export prices.
• Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 8:45 a.m. ET.
• Data on industrial production for June will be released at 9:15 a.m. ET. Analysts expect a 0.1% rise for industrial production and a 0.2% increase in manufacturing output, compared to a respective 0.2% rise and 0.1% drop in the previous month.
• Data on business inventories for May will be released at 10:00 a.m. ET. Business inventories are projected to rise 1.2% in May to match a 1.2% increase in April.
• The University of Michigan's consumer sentiment index for July is scheduled for release at 10:00 a.m. ET. Consumer sentiment declined further in June, with no improvement expected for July. Analysts expect an unchanged reading of 50.0 for July.
• The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

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