U.S. Stock Futures Are Higher While Powell Will take Questions on Inflation & Economic Outlook Today
U.S. stock futures are higher: Retail sales rose 0.9% last month compared to estimate of 1% and ex vehicles and gas the increase was 1% and above consensus of 0.6%. Futures remain higher post announcement and monthly industrial production will be released today at 9:30am. Chairman Powell to take questions on inflation and economic outlook today at a WSJ sponsored event at 2pm. Treasury bond yields are inching up slightly and the benchmark 10y has been in a tight trading range, while staying below the 3% mark. China has been slowly reopening some stores in Shanghai and is planning on state driven stimulus programs to buffer economic growth. International markets are up in trading.