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Retail sales will be released at the bottom of the hour

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Retail sales expected at -0.2%

The retail sales and the US will be released at the bottom  of the hour, along with the Canada securities purchases.

Retail sales are expected to come in at -0.2% with core retail sales expected at +0.2%. The ranges can be quite wide. So be aware

Additionally, Canada foreign securities purchases will be released with expectations although 11.5 billion versus 20.79 billion last month. The data is not usually a market moving release.

At 9:15 AM, the Federal Reserve will release industrial production data for the month of July. The expectations are  for 0.5% versus 0.4% last month.  Capacity utilization are expected at 75.7% versus 75.4%.

At 10 AM, business inventories in the US will be released regions of a gain of 0.8% versus 0.5% last month. Also at that time the NAHB housing market index is expected to come in unchanged at 80.0.

Feds Powell speaks at 1:30 PM ET at a town hall meeting in front of educators and students. It is unsure if he will speak specifically to his thoughts on taper, the economy, and monetary policy.

Feds Kashkari will speak at 3:45 PM ET.  Kashkari is a dove. It will be interesting to see if he changes his spots a bit and tilts more toward tapering.

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