UK Retail Sales fall sharply

UK Retail Sales fall sharply

UK stocks are flat to lower today. Data from the Office for National Statistics this morning showed that Retail Sales fell by 2.5% from a month earlier. Expectations were for a small increase.

Wall Street managed a small gain on Thursday following two days of losses. The government announced that expanded unemployment benefits would be allowed in the wake of the increasing Covid-19 cases. Markets will be turning their attention to next week’s Jackson Hole conference when the Fed is expected to announce when they will begin tapering the stimulus program.`

Asian markets had a harder time, suffering further losses after the Chinese government increased their regulatory crackdown on the technology sector.


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