SCOREBOARD: Retail anomaly

Markets fell overnight, but the drop was a general pullback and not the fault of US holiday retail.

Stocks had a pretty decent bid last week (the S&P500 was up 3.6 per cent) so I’m not so sure that last night’s falls are indicative of anything – just some pull back from a solid run. I have seen some reports that weak Thanksgiving sales were partly to blame for the more sluggish equity performance, but truth is that wasn’t the case.

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