<p>Gary Schlossberg of Wells Fargo Investment Institute stated that the U.S. retail report for July has somewhat alleviated concerns about an economic downturn. The increase in July was slightly below expectations, but the increase in June was significantly revised upward, indicating that consumers are still performing well during the hot summer months. At least for the financial markets, the bad news is that this moves the Federal Reserve further away from significant interest rate cuts at this stage</p>

<p>Gary Schlossberg of Wells Fargo Investment Institute stated that the U.S. retail report for July eased concerns about an economic downturn. Although the increase in July was slightly below expectations, the increase in June was significantly revised upward, indicating that consumers performed well during the summer. This means that for the financial markets, the Federal Reserve is currently moving away from the possibility of significant interest rate cuts</p>

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