On the latest edition of Market Week in Review, Chief Investment Strategist Erik Ristuben, and Rob Cittadini, director, Americas institutional, discussed slumping U.S. retail sales, stalled economic growth in Germany, and the latest numbers from fourth-quarter earnings season.
Disappointing December for U.S. retailers: What's to blame?
The Commerce Department reported that U.S. retail sales tumbled 1.2% in December from a month prior - a somewhat startling drop, Ristuben said. In his opinion, the slide in sales can largely be attributed to two factors: Sagging consumer confidence and harsh winter weather in parts of the U.S.