US equities are continuing their slow but steady retreat as expectations for a Fed taper increase

US equities are continuing their slow but steady retreat as expectations for a Fed taper increase. On the economic front, today brought very mixed news. On one hand, retail sales showed a healthy 0.7% increase in November. That's in line with expectations and the biggest monthly climb since February. Minus gasoline sales, retail spending rose an even higher 0.9%. This continues a solid uptrend that began in September. On the flip side, jobless claims rose by a whopping 68,000 to 368,000 for the week. While that's a huge jump in claims, it likely has a lot to do with the Thanksgiving holiday last week, as I mentioned before. Around the holidays, jobless claims are notoriously volatile, so I wouldn't read too much into this one number. Overall, the economy continues to show strength. (VIEW LINK)