Friday’s retail sales report is the next big data dump on the likelihood of a Fed interest rate increase in June

The Advanced Monthly Sales for Retail report, scheduled for release on Friday at 10 a.m. will go a long way toward showing whether optimism about the economy is justified even after last week’s disappointing jobs report. If retail sales are strong, then economic growth could turn out to be stronger in the second quarter and financial markets can go back to worrying about when the Fed will raise interest rates

Goldilocks confronts a disappointing April jobs report

Under some circumstances you’d expect a weak jobs number to send markets higher because it would signal that the Federal Reserve will put off the next interest rate increase. But not today. The Dow Jones Industrial Average was off slightly, by 0.07%, as of 11:30 a.m. New York time. The Standard & Poor’s 500 slipped 0.18%. That’s because markets have already priced in a one or none scenario for 2016.