Market Insider

Retail sales could drive trading on Wall Street

Barring a geopolitical event, the direction of Tuesday's trade is likely to be determined by data on April retail sales, and could potentially help the only sector of the 's main industry groups still in the red for the year.

"This is the first clean number we will see, with no weather impairment and no Easter shift. It should take the noise out of investing tomorrow," said Art Hogan, chief market strategist at Wunderlich Securities.

"We're looking for a 0.4 percent gain, excluding autos 0.6 percent," Hogan said of the Commerce Department release, set for 8:30 a.m. ET.