Quotes from the news wire:
The retail sales that we are seeing today is backward. I would put less weight on backward-looking data and I would put more weight on management's discussion of guidance in the future, and that doesn't look good, investors are starting to build a mosaic of information suggesting that the consumer is not doing as well as you would expect.
It seems like the shadow of higher rates and weakening economy doesn't help stocks and that's what we are seeing, i think we are seeing a continuation of what's been going on since last week, which is the effect of the Federal Reserve's meeting, what we've seen with the job's report on Friday and what's going on with the earnings season. Combining them it is a not-so-clear picture.
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