Stock Futures Are Muted This Morning Following the Release of June's Retail Sales Data

U.S. stock futures are lower. Stock futures are muted this morning following the release of June's Retail Sales data, which indicated growth of 0.2% month-over-month. This figure represents a slowdown in spending compared to the previous month and falls short of economist expectations, which projected a 0.5% increase. Companies continue to announce their quarterly results, while yields are ticking lower as money markets increasingly factor in an upcoming Fed rate hike next week. Industrial production data will be released shortly, as well as business inventories and housing market index data which will be released after the market opens. Internationally, Asian markets concluded with declines, while European markets are slightly lower during afternoon trading, with the focus primarily on earnings reports abroad. This morning both crude oil and gold prices are on the rise, while the Dollar remains stable.

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