Bonds & Stocks
Wall Street is ending the week on a fairly quiet note, with stocks hovering near all-time highs and bonds wavering after the latest reading on retail sales tempered some concerns about a retrenchment in consumer spending.
Economy
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%.
World
China’s economy clocked its deepest slowdown of the year in July, raising expectations for Beijing to roll out more stimulus this year to offset the impact of Donald Trump’s trade war.