Sujata Ro shows us the future.

The markets were in a positive mood after the Joe Biden-Xi Jinping summit, in which the Chinese leader called President Obama his “old friend”.

It will depend, however on U.S. October Retail Sales figures that are expected to be published later in this session.

Personal consumption accounts for almost 70% of the U.S. GDP. This means that it is crucial to decide whether Americans save or spend. U.S. consumers are another key factor in the global supply chain pressures.

The forecast calls for an increase of 1.1%, but there’s a chance that inflation — the highest rate since 1990 — may have begun to reduce spending. Remember, data last Friday showed consumer sentiment at a decade-low.

Retailers such as Walmart (NYSE) report Q3 earnings Home Depot This will further enhance the picture. Equity investors seem unperturbed, as they have lifted Wall Street’s retail share index by more than 10% over the last month. This has allowed it to surpass the wider.

Britain released strong jobs numbers, showing that unemployment has not been reduced by the end furloughs. Sterling is now on the rise with a Bank of England Interest Rate Rise for December.

After the Biden-Xi summit, a buoyant Asian session left European and U.S. equities poised to open stronger. This has led to the currency reaching a five month high.

Bond yields have been falling, but at 1.6% the 10-year Treasury yields are up nearly 20 basis points from last Wednesday’s inflation data.

Finally, watch shares in EV maker Tesla (NASDAQ:)>. As Elon Musk, its CEO, continued to sell off holdings, they have suffered a loss of more than $200 Billion in market capital.

There are key developments which should give more direction to the markets Tuesday

Philip Lowe (Reserve Bank of Australia Governor) dismissed the market price for a 2022 rate rise

Vodafone provides guidance for free cash flow after good H1 and higher cigarette prices increase Imperial Brands (OTC), revenue

Bitcoin fell to $60,000 and is now less than 11% from its Nov. 10 record-high of $65,000

-U.S. retail sales October/industrial production/inventories

-U.S. TIC data – foreign buying of bonds Sept

Raphael Bostic, President of Bank of Atlanta (Fed Speakers)

Emerging markets: Hungary’s central bank will raise its interest rate

-Europe earnings;  Vodafone, Imperial Brands, Buoyges, Zooplus,

U.S earnings, Home Depot, Walmart and La-Z-Boy. Retail sales, https://fingfx.thomsonreuters.com/gfx/mkt/byvrjkelmve/Pasted%20image%201637012593807.png