Bonds & Stocks
Wall Street traders fearing a bigger pullback in consumer spending got some relief from a mixed retail sales report, with stocks rebounding from session lows and short-term bonds falling. S&P 500 futures fluctuated. The yield on 10-year Treasuries was little changed at 4.31%. The dollar lost 0.2%.
Economy
US retail sales rose by less than forecast in February and the prior month was revised lower, adding to concerns of a pullback in consumer spending. The value of retail purchases, not adjusted for inflation, increased 0.2%, Commerce Department data showed Monday. January data was marked down to a 1.2% decline, the biggest drop since July 2021.
World
The Kremlin confirmed that Russian President Vladimir Putin is due to speak to President Donald Trump on Tuesday amid the US push for a ceasefire in the war in Ukraine.