ECONODAY: The second-quarter suddenly doesn't look very strong as retail sales for June, showing broad weakness, came in way below expectations, at minus 0.3 percent. Motor vehicles were part of the reason, excluding which sales came in at only minus 0.1 percent. But excluding both autos and gasoline, core sales fell 0.2 percent. This is a very disappointing report that likely pushes back the outlook for the Fed's rate hike from September to December, suggesting that the Fed's faith in the strength of consumer confidence may be misplaced...
