This morning, Target announced same store sales rose 6.5%, the strongest increase in over a decade. The results highlight strength in consumer spending, seen in second quarter results of other retailers as well, which could help propel economic growth in the months ahead. Meanwhile, the minutes from the latest FOMC meeting are set to be released today and chair Jerome Powell is planning to speak at the end of this week. Each will be reviewed closely for any suggested change in the pace of interest rate increases, given inflation levels and expected strong growth. Given all of the news headlines this morning regarding the results from the Cohen and Manafort legal trials, it is important to remember that corporate earnings and interest rate policy remain key factors for the direction of markets. In all, equity futures are lower this morning heading into the market open.
This information has been prepared by Argent Trust to highlight issues which may be of interest to the recipient and is not intended as legal, investment or tax advice. You are urged to seek legal, tax and accounting counsel for your particular situation before acting on topics discussed here. At Argent Trust, we assist our clients in managing and enhancing their wealth. Please call us at 615.591.0044 with questions or to schedule a meeting. © 2018 Argent Financial.