Macy's, Kohl's and JCPenney will report their latest results this week. The numbers are unlikely to be good. Competition from Amazon and Walmart is fierce. And that's why many other smaller mall-based retailers are going bankrupt.
President Trump can point to some good economic news since he took over, most notably a healthy job market and continued boom for stocks and housing. But consumer spending has weakened and the trade deficit is still an issue.
Labor Secretary Alexander Acosta had glowing things to say about the April jobs report. House Democratic leader Nancy Pelosi cheered the numbers too, but warned that repealing Obamacare could hurt the economy.