TOGGLE CEO and Co-Founder Jan Szilagyi in Business Insider


July retail sales is the next big economic data point. A beat could calm recession fears but hurt stocks as the Fed pushes forward on its hawkish path.

US retail sales will be the next major data pit stop on the way to the Federal Reserve’s rate-hike decision next month and a report that beats expectations could pull stocks downward in the short run, market analysts say.

July retail sales, due Wednesday, are projected to show continued resilience among American shoppers dealing with decades-high prices for food and other living essentials. Retail sales provide a snapshot into the consumption that drives about two-thirds of activity in the world’s largest economy.

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