U.S. equities have pulled back nearly to unchanged
U.S. equities have pulled back nearly to unchanged despite the carnage in the retail sales, and investors laboring under the trade and shutdown scuffles. Perhaps the algos don't want to be caught short into the next round of dovish Fedspeak, which will resume at midday. Europe has pared some losses as well, with the UK FTSE now 0.36% in the green and the Euro Stoxx 50 and German DAX nearly flat. Macy's shares tumbled 18.5% on a holiday miss and weak guidance, pulling down the sector. Top gainers in the S&P are Constellation Brands +5.8%, PG&E +5.3% and GE +2.8%, against the deepest loss by Macy's -18.5%, American Airlines -8.4% and Kohl's -7.3%. U.S. VIX equity volatility is up 2% to 20.40 vs a 21.32-20.36 range, while the dollar index rose 0.27% to 95.40 and WTI crude oil has rebounded from lows as well, just 0.3% lower near $52.20 bbl.