The S&P 500 Index (SPX) rallied for the fifth straight day yesterday, basically ignoring talk of a possible Fed stimulus tapering. The softness in Shanghai is also weighing on crude for the second day in a row, as prices fell below $67 a barrel. Back home, retail sales dropped 1.1% in July, way worse than the consensus on Wall Street for a 0.2% decline. WMT earnings dominated this morning’s calendar, along with retail sales. Pain at the Pump: Wonder why gas still costs so much despite crude falling so sharply over the last month?

Source: Forbes August 17, 2021 13:18 UTC