SCOREBOARD: Ebb and flow

A modest pullback is unlikely to change Wall Street's underlying trend, while John Boehner dug in on budget cuts.

As I write, we’re looking at modest falls across Wall Street. The S&P is off 0.2 per cent (1508), the Dow is off 26 points (13,952) and the Nasdaq 0.3 per cent lower (3162) – but there wasn’t a lot of news or dataflow. In fact the only major dataflow came from Europe, where we saw German factory orders rise 0.8 per cent in December after 1.8 per cent all the month prior. That was it though.

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