new data points to consider 

- US Inventories - not much happening in the inventory levels; yet over the last five months markedly below previous time periods

- Retail sales growth -  even with four months of gains it appears that we are still at overall tepid levels compared to prior periods

- 10 year treasury yield - up from the valley and reaching a plateau?

Businesses are proceeding cautiously, as shown in June's U.S. business inventories.

Sales have risen four months in a row, and this fact is much-hyped in today’s news.  However, a cursory inspection of the attached chart show that this streak is not remarkable.  In fact, sales growth remains tepid by historical standards.
The business recession ended four years ago, but the American labor recession continues with no end in sight.  Only sustained GDP growth will improve the prospects of the American worker.  Anything less is just hype.  DARECONOMICS

Chart Of The Day

Chart Of The Day