Investor optimism about U.S. holiday sales is declining, as signaled by the performance of two small- cap stock groups.
Investors may see more signs of slowing U.S. manufacturing growth when makers of corrugated boxes and distributors of supplies report quarterly earnings this month.
U.S. upscale retail stocks have fallen out of favor with investors even though high-income Americans are generally positive about the economic outlook.
Google Inc.’s shares fell the most in almost three months after its latest bid to preserve control for founders Larry Page and Sergey Brin raised concern among corporate-governance watchdogs.
Shares of companies with high operating or financial leverage are outperforming the market, as investor sentiment about the economy improves.
Companies sensitive to changes in the yield on 10-year Treasury notes are leading the market, suggesting that some equity investors have been premature in anticipating higher interest rates.
Weak sales of some technology and consumer products is driving down an index of electronics- manufacturing-services companies, which is at a three-year low relative to the market.
"It's definitely' risk off' today, especially in developing countries whose economies are leveraged to oil."
- Tim Ghriskey on Nov 13, 2014
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