Monday's Market Minute: Resilient Markets Remain…

Ahead of the cash open as we begin another trading week, U.S. indices remain at or near all-time highs as investors and traders remain focused on the positive and are willing to shrug off the negative. Last week, Friday’s Consumer Sentiment report came in at a near 10-year low to end the week on a bit of a somber note. The focus this week will be on economic data, earnings, and FOMC minutes due out Wednesday.

Let’s take a market minute to get ahead of what could move markets and what you should be keeping an eye on. First, this week the focus will be back on the consumer side of the equation with retail sales data due out Tuesday and earnings from closely-watched retailers throughout the week like Walmart WMT, Home Depot HD, Macy’s M, Target TGT, and more. We also have some housing numbers to keep an eye on.

Tomorrow, the Housing Market Index and Wednesday, Building Permits and Housing Starts will be watched as housing seems to have slowed some the last few months; there are concerns that it’s possibly a reflection of overall economic conditions here in the U.S. This comes as COVID concerns re-emerge with the Delta variant spread weighing on economic conditions globally; a clear example of that was China’s Retail Sales released this morning below expectations. Industrial Production also came in below expectations and showed the recovery is slowing.

Don’t forget about the FOMC minutes due out Wednesday; investors will be looking for clarity on one topic from the Fed this week, and that’s more specifics on the taper timeline—when and how much would also be nice to know in case you’re reading this, Fed Chair Jerome Powell. But clearly another busy week ahead with lots to stay dialed in on, so be nimble as always.

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Image by Michael Schwarzenberger from Pixabay