It’s a good solid rally sparked by an olive branch from China, but it is also being driven by robust spending by American consumers.

Shoemakers Send Letter to Trump

I'm a small business owner and appreciate any business that wants to grow and protect their margins, which is what Big Businesses should say in those letters to Trump instead of acting like they are looking out for consumers.  

That said, of the publicly traded names on current "shoe maker" list most are higher:

• DECK +2.2%
• CROX +1.9%
• COLM +1.3%
• JCP +26.3%
• SKX +2.7%
• SCVL +22.2%

The trade battle presents a great time for big business to be more reflective and make adjustments.

Other Retail Highlights

Burlington (BURL) and Dollar General (DG) and other retailers hit all-time highs.

Consumer Prices

Important note from Restoration Hardware (RH)

RH EXPECTS NO IMPACT TO RESULTS FROM MOST RECENTLY ANNOUNCED CHINA TARIFFS

The Company expects the impact from the increased tariffs will be offset by vendor price reductions and "minor price increases."

S&P Best Sectors

• Tech
• Industrials (transportation names coming on strong this week)
• Consumer Discretionary
• Communication Services 

Summation

Overall, the last couple of sessions have been remarkable, but major indices still haven’t closed above key resistance points.