Reply To: Traders Market Weekly: Santa Claus Came to Town


Major European indices are effectively flat in today’s trade, reflecting a lack of conviction and an increase in distraction going into the extended holiday weekend.
STOXX Europe 600: flat (flat for the week),
Germany’s DAX: flat (-0.3% for the week),
UK’s FTSE 100: +0.1% (+1.7% for the week),
France’s CAC 40: flat (-0.3% for the week),
Italy’s FTSE MIB: flat (-0.3% for the week),
Spain’s IBEX 35: flat (+0.1% for the week).

Markets will be closed Monday for Christmas Day and then most European markets will be closed Tuesday as well for Boxing Day.
There was a good bit of data released today, including the UK’s final Q3 GDP report, which was revised lower to show a small contraction (-0.1%) in activity.
Separately, some weakness in consumer discretionary stocks, like Adidas and Puma, was seen following Nike’s earnings report and disappointing guidance.