This morning’s Wholesale Trade report from the U.S. Department of Commerce will highlight inventories which have been building at a steady pace in line with underlining sales and adding to GDP.
- Wholesale sales and inventory data give investors a chance to look at the consumer economy in detail, because activity at the wholesale level can help set forecasts of consumer trends.
Earlier today, President Donald Trump headed to the two-day G-7 summit in Quebec and will leave again early tomorrow morning (Saturday) to head to Singapore to prepare for his meeting with North Korea’s Kim Jong Un.
In overnight markets:
- The MSCI Asia Pacific Index declined 0.9 percent
- Japan’s Topix index closed 0.4 percent lower on rising emerging-market concerns and worries about Trump’s G-7 and Kim summits.
- In Europe, the Stoxx 600 Index was 0.6 percent lower at 5:45 a.m. ET as disappointing German industrial production figures added to geopolitical fears.
- The 10-year Treasury yield was at 2.904 percent