Following a week of record highs on the major equity indices, the headline focus has now shifted from Powell to Q2 earnings. As always, we must continue to keep an eye on the economic backdrop. The upcoming week will feature a number of significant economic data releases. Due out this week are: Retail Sales Advance, Industrial Production, Capacity Utilization, NAHB Housing Market Index, Housing Starts, Building Permits, U.S. Federal Reserve Beige Book Release, Philadelphia Fed Business Outlook, Leading Index, and U. of Mich. Sentiment.

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