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US Futures are Lower After Data #Futures #Manufacturing #Retail #Homebuilder

US Futures are lower after data.  The Commerce Department reported that retail sales rose 0.3% in April, matching economists forecasts.  When automobiles and gasoline are removed, retail sales were slightly below estimates.  The Empire manufacturing index rose more than expected in May, rising to 20.1, higher than the 15.5 consensus estimate.  Later this morning the market will get a look at business inventories from March and a read on homebuilder confidence in May.  European shares are higher with most sectors positive, however, telecommunications stocks are lagging.  Asian shares closed mostly lower with financials and technology shares underperforming.

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