Equity Markets Improving Ahead of Retail Sales
Investors are mildly optimistic ahead of the retail sales report, the week’s most important data. A little over an hour before the opening bell futures are on the Dow are up 17 points to 10,645 and S&P 500 futures are trading 1.90 points higher at 1,143.50.
The US dollar is broadly stronger but commodities are mixed. WTI Crude oil is up 14 cents to $79.79 per barrel Spot Gold down $2.19 to $1,136.01.
Aside from data today, President Obama is expected to deliver details on the much talked about bank tax just before Noon, according to Bloomberg News.
“As many as 50 financial firms with assets greater than $50 billion each would be hit by a levy President Obama will announce today to help recoup taxpayer bailout money and trim the federal budget deficit,” Bloomberg reports, quoting an anonymous administration official. “The levy based on bank liabilities would be imposed starting June 30 and the administration estimates it will raise $90 billion over a minimum of 10 years.”
Key Events Today:
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