Financial events 2005

What score did Santa keep this christmas? US retailers managed to beat sales expectations despite a weak start to December, but probably mostly due to late promotions, Revenues grew 3% vs expected 1-2%. In the UK, retail sales definitely was weak with Woolworth's, Next and Marks and Spencer producing disappointing numbers.

Markets are still holding up surprisingly well in Europe. Stoxx50 at 2976. Strong USD at 1.3223 could explain some of the strength relative US markets.