While the pace of earnings season doesn’t really pick up until next week and the week after, today is an uncharacteristically busy day for economic data with November Retail Sales, Jobless Claims, the Philly Fed Manufacturing report, and Import and Export Prices at 8:30. If that wasn’t enough, at 10:00 AM, we’ll have Business Inventories and Homebuilder Sentiment. So far, the results have been positive as the Philly Fed came in much better than expected, Jobless Claims fell all the way down to 204K, and Retail Sales were slightly better than expected. With numbers like these, it appears as though Target’s sales miss announced yesterday was more of a company-specific issue than anything else.
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