The Dow closed at a new record high on Friday, not that there was a lot to guide it, and gains for the actual session were modest.
News and data was light -- in fact for the US we only saw wholesale sales. These were strong though, rising 1.41 per cent suggesting retailers are having a greater time, as are wholesaler. Inventories too jumped over 1 per cent, which is an important sign -- it tells us that wholesalers are planning or expecting further robust sales growth. The only problem is, this is a lower-tier release and is rarely, if ever, market moving.