We've got some positive news for the British pound and we are awaiting the release of the core retail sales for Canada at 15:30 MT.
American wage surge and tax-bonuses stimulate shopping in retail stocks
American fund managers are betting that soaring wages along with the effects of the Republican-led corporate tax reduction are going to prove a lifeline to middle-sized US retailers who have faced difficulties with staying relevant in the era of Amazon.
CM Advisors, Plumb Funds and Wells Fargo appear to be among those asset management companies, which are strengthening their positions in companies, focusing on shoppers whose annual income accounts for $74,000. They include kids’ apparel firm Carter's Inc, men's apparel company Tailored Brands Inc, department store Big Lots as well as discount retailer Wal-Mart Stores Inc.
With unemployment at 17-year minimums, many US businesses are having a hard period filling to jobs suggesting middle income. Therefore, wages for those employees are believed to soar more than 3% in 2018, which is the largest soar within the category since April 2009.
The FOMC meeting is on the agenda. Will the Fed keep its rate on hold or not?
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.