Futures improved after a mixed US retail sales report. The headline was soft but the control group was strong, despite downward revisions. I'm tempted to think it was a 'bad news is good news' move but Federal Reserve rate cut pricing for further out in the year hasn't improved.
Perhaps a contrarian positive indicator comes from RBC, which cut its year-end price target in the S&P 500 to 6200 from 6600. Notably, even the 'cut' level is still 10% above spot.
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