Retail stocks measured by the vector of retail ETF (NYSE:RTH) jumped over heavy volume that wider & S P 500 index made an all-time high. The broader markets were driven higher by the retail sector despite of heavy layoffs of more than 24,000 in March according to last Friday's non-farm payroll report. A recent article published in wealth Advisor Club (http://thewealthadvisorsclub.com/business/1095/sp-500-poi...) suggests that retail stocks are the driving force behind the movement in the broader equity based awards, but investors will absorb the minutes of meeting FOMC Wednesday.
According to the article, FOMC minutes reflects a hawkish attitude which would probably have been different if the Board of Governors of the FOMC was aware of jobs information prior to the meeting. Later in the week, the Commerce Department will publish the retail sales, which could also be a number low given the significant drop in retail employment sector indicated in the report on the use of the Governments issued last Friday.