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Today's Data

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US retail sales today plus the Philly Fed which though not considered so high a level of importance none the less does have the ability to move the market if it comes in far from expectations.

The Philly Fed is  a "Survey of about 250 manufacturers in the Philadelphia Federal Reserve district which asks respondents to rate the relative level of general business conditions"

Below shows month by month since 2000 and it's quite telling of the current state of manufacturing since late 2016 compared to previous years. The current consistency and duration of positive conditions is remarkable from a historical perspective.

image.thumb.png.ee69fcbb6e78baeedb7f1550a9430f15.png

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