The positive bias to the US stock market over the long run means that drawdowns rarely exceed 10%. But this isn’t one of those times. The S&P 500 is posting a decline in excess of 10% from the market’s previous peak, offering one more sign that the trend is weak—the weakest, in fact, in several years, according to this metric.
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● Donald Trump and Bernie Sanders Win in New Hampshire | NY Times
● Yellen to face Congress amid uncertainty on Fed policy | WaPo
● US job openings at near-record 5.6 million in Dec | CNBC
● US small business optimism index falls to 2yr low in Jan | Fortune
● Redbook: US retail sales fell 2.6% in first week of Feb vs. Jan | WSJ
● US wholesale inventories edge lower in Dec | RTT
● UK industrial output falls sharply in Dec | MNI
● France’s industrial output surprisingly weak in Dec | MarketWatch
● Italy Industrial Production Falls Unexpectedly In Dec | RTT