What to Watch Tuesday: May Retail Sales Data

Investors will be watching May retail sales data, released on Tuesday. Wall Street expects a 0.3 percent rise month-over-month, compared to the 1.3 percent increase in retail sales seen in April. Core retail sales, which excludes volatile auto and gasoline sales, is also expected to jump by 0.3 percent. It's been a rough ride for the retail sector, as consumers increasingly shift to online outlets. Meanwhile, import and export prices for May are also slated to be released Tuesday. Import prices are expected to rise 0.8 percent thanks to higher oil prices. Export prices should gain 0.2 percent. At 10am, business inventories data for April is unveiled, which is expected to post a 0.2 percent month-over-month increase. Finally, the Federal Reserve's two-day policy meeting begins Tuesday - central bankers will be deliberating about the trajectory of interest rates in the near-term. TheStreet's Scott Gamm reports from Wall Street.