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Thursday, December 27, 2012

The Unexpected Becomes The Norm

The unexpected becomes the norm in a world of easy explanations.  A stock market rally could be the most unexpected outcome of 2013.

NYSE Composite and ADN(E)


Headline:  Retailers pull stocks lower on poor holiday sales

By CHRISTINA REXRODE, Associated Press

NEW YORK (AP) — For the stock market, this week hasn't been the most wonderful time of the year.

U.S. stocks fell Wednesday for the third trading day in a row. Disappointing holiday sales weighed heavy on retail companies, and the unwelcome "fiscal cliff" package of higher taxes and lower government spending loomed nearer.

The Dow Jones industrial average slipped 24.49 points to 13,114.59. The Standard & Poor's 500 index fell 6.83 to 1,419.83 and the Nasdaq composite lost 22.44 to 2,990.16.

Karyn Cavanaugh, market strategist with ING Investment Management in New York, wrote a note to clients Wednesday highlighting the less-than-merry retail sales.

"I hope that they're reading this from the mall," she said later, "because retail sales could use a boost."


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