Wednesday will feature three major economic data reads, starting with Retail Sales and Nonfarm Productivity at 8:30 A.M. and wrapping up with Industrial Production at 9:15 A.M. Current expectations are for three solid readings, which continues to support our core thesis that strong earnings and economic data presents an opportunity to buy.
On Monday’s CNBC Fast Money, I discussed the fact that Q1 and Q2 earnings both rose by over 20%, blowing by expectations. That, coupled with more and more strong economic data, should push the S&P to our target of 3,200 despite all the rhetoric around trade wars and fear of contagion with the Turkey currency crisis.
Below is a summary of the expectations for the data releases coming out today.
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