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.
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