It certainly didn’t take long for the afterglow from the Spanish bailout to fade—the Dow popped 90 points at the open on Monday, only to finish the day 140 points in the red. This is just part of investing in a world with headline-driven traders, and we’re not going to fall for it.

If you’re feeling uneasy about your portfolio’s exposure to Europe, I recently wrote a feature on how you can steer clear of the debt crisis. And while the eurozone drama is set to hang around for the near-term, I’m actually more interested with the state of the U.S. economy. This week, we’ll receive important updates on several facets of the economy, and I’ll be hitting the highlights during the next few days.

On Wednesday, we’ll receive the Commerce Department’s retail sales figures for May. If you’ve been following my blog,

you’ll know that the American consumer is the primary driver of the economy. So I take this data very seriously. We recently had over a dozen major retailers release their May same-store sales data, so I’ll also touch upon which kinds of retailers are doing well while others are getting left behind.

By Thursday, we’ll have a better picture about how inflation is holding up in the U.S. Lately, the dollar has been gaining ground against the euro and many other major currencies, but it remains to be seen how this is affecting the spending power of the average American as well as American businesses.

That day, I’ll cover the Producer Price Index and the Consumer Price Index reports while they’re still hot off the press. This should give us insight into how much bang for our buck we are getting and the effects of the Federal Reserve’s low-interest rate policy.

Other economic news this week includes the Commerce Department’s business inventories report on Wednesday and then the Labor Department’s initial claims report and the Federal Reserve’s industrial production report on Thursday.

I’ll cover any other market-moving news as the details come in.