Stock futures edged higher after solid retail sales reports helped lift stocks yesterday. The Dow, S&P 500 and Nasdaq all posted mild gains.
The only economic data out today is the February wholesale inventories and sales report. Economists expect inventories held by wholesalers rose 0.4% after declining 0.2% in January. Economists predict wholesale sales rose 0.5% in February, which would be the 11th consecutive gain. Consistently rising inventories and sales at the wholesale level mean manufactures will eventually need to expand and hire more workers, and inventory restocking should contribute to GDP in the first quarter, as it did in the fourth.
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