"Consumers are cautious"
- Kevin Cummins, an economist at UBS Securities LLC
U.S. retail sales probably increased in July, claim economists before a report today. Retail sales are expected to increase 0.3 per cent from June, when they retreated 0.5 per cent. The Commerce Department will release the figures at 3:30pm CET.
"Consumers are cautious," said Kevin Cummins, an economist at UBS Securities LLC in Stamford, Connecticut.
"Despite a better report than the prior couple of months, you can't get too excited about spending because the third quarter is still starting off at a pretty slow pace."
The Standard & Poor's 500 erased 0.13% to 1,404.11. The Dow Jones Industrial Average slid 0.29%, or 38.52 points, to 13,169.43. The Nasdaq Composite gained 0.05% to 3,022.52.
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