FOMC Drift

A modest rebound in tech names is offsetting broader market weakness as the market rolls into the Fed this afternoon. Total retail sales increased 0.9% month-over-month in May (consensus: 0.5%) following a downwardly revised 0.4% increase (from 0.5%) in April. Excluding autos, retail sales jumped 0.8% (consensus: 0.5%) on the heels of an unrevised 0.7%…