01 MARKET SUMMARY
Records meet the consumer test as oil rebounds.
U.S. equity futures are nearly flat after the S&P 500 closed at a record, with investors waiting for July retail sales to test the health of consumer demand. Thursday’s softer-than-expected producer inflation strengthened the case for a September Federal Reserve pause and helped technology shares lead the market higher. Rising crude prices are complicating that relief after the United States threatened to maintain its naval blockade of Iran indefinitely. Investors should watch retail-sales details, Treasury yields, oil, and whether leadership broadens beyond the technology sector.