Here come retail sales ...
The report on US retail sales for October is set for release at 8:30 a.m. ET.
Economists estimate that retail sales rose 0.3% compared to the prior month, higher than the previous growth rate of 0.1%.
Excluding the volatile costs of automobiles and gas, they forecast that so-called core retail sales rose 0.4% month-on-month.
This is perhaps the most exciting data release of the week, as it is a top-tier report that would give us some insight into consumer spending, which constitutes about two-thirds of gross domestic product.
But it may not even matter. Pantheon Macroeconomics' Ian Shepherdson noted on Thursday that the retail sales data make up only about half of consumer spending. And so, it tells only half of the consumer-spending story.
We'll be back with the latest once the data cross, refresh this page for updates.