S&P Futures Tick Higher With Focus on U.S. Retail Sales Data

S&P 500 E-Mini futures (ESU26) are trading up 0.10% as investors eagerly anticipate U.S. retail sales data expected later today. This follows an increase in WTI crude oil prices following an attack on a tanker in the Persian Gulf. U.S. Treasury Secretary Scott Bessent warned that the United States would impose unprecedented economic isolation on Iran with measures "never seen before" as part of a coordinated strategy alongside the ongoing blockade of Iran's ports.

U.S. Defense Secretary Pete Hegseth stated that the U.S. could maintain the blockade indefinitely by rotating ships in and out.

In other stock market news, JPMorgan upgraded Salesforce stock and analysts are closely watching the upcoming release of U.S. Retail Sales data with economists predicting a 0.1% m/m increase for July after a 0.2% increase in June. Core retail sales, excluding motor vehicles and parts, are expected to rise 0.2% m/m. The University of Michigan's Consumer Sentiment Index for August is forecasted at 54.4, up from 55.2 in July.