US retail sales data 🇺🇸 increased 0.1% in May, lower than Dow Jones forecast of 0.2%. Excluding cars 🚙, sales decreased by 0.1%.

This means consumers are not spending as much as expected, which is bad news for the economy but good news for investors.

No matter what Fed Chairman Powell says, the market still predicts the first interest rate cut will take place this September.