With the domestic stock market up almost 50% since the March low, it may be time for the market to “take a break”. But whether that means treading water, or a meaningful decline, remains to be seen.
Retail sales for August were released today and they were a mixed bag. As an example, the Gap’s numbers were good, and Abercrombie’s numbers were a disappointment. Unemployment claims were slightly better than expected for August, but revised down for July.
In his September 2 post on Real Money, Doug Kass recommends reducing exposure to equities and credit. Based on the mixed data coming out, that may be a good idea.
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