A holding pattern seems to have developed with the S&P 500 Index (SPX) near its all-time closing high set in February but unable to clear that level recently. Domestically, investors will likely be watching for developments from the Democratic National Convention as well as any news about the U.S. The S&P 500 Index (SPX) edged further from the record high close set in February, although it remained within spitting distance of that mark. Unwrapping Retail Sales: Even though retail sales data for July came in shy of expectations on Friday, there was some good news tucked into the report. Retail Sales Revision: There was another bright spot in the retail sales data in addition to the better-than-forecast ex-auto number.

Source: Forbes August 17, 2020 13:30 UTC