Market Insider

Retail sales will decide whether the bears are back

Market's hope for retail

April's retail sales report Wednesday could bring back the bond bears if it shows a nice rebound in the economy.

But stock traders were more negative than not on expectations for the number, which is also being touted as being nearly as important as the monthly jobs report for what it will say about whether it was weather and port strikes that caused a contraction in first-quarter growth.

"I think as important as the jobs number is Wednesday's retail sales print," said Russ Koesterich, global chief investment strategist at BlackRock. Retail sales for April are expected to rise 0.2 percent, but without gasoline and autos, a half percent gain is expected.