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Retail Sales Latest News: Futures Up Ahead of Sales Data

Wochit 0:56 mins

U.S. stock futures pointed to a higher open, ahead of data on retail sales and New York-area manufacturing, as well as an earnings report from heavyweight bank Citigroup. Retail sales increased 0.4 percent last month as demand for automobiles soared, but sales of building materials fell, the government reported. China's GDP growth is expected to have slowed down in the second quarter as weak overseas demand weighs on output and investment, providing a test for Beijing's resolve to revamp the world's second-biggest economy in the face of deteriorating data. Second-quarter GDP figures are due to be published on Monday along with other indicators, including industrial output and retail sales for June.

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