The U.S. annual shopping spree has begun and is expected to be the busiest buying season over the recent years. According to the National Retail Federation (NRF), holiday sales (November and December) will see a solid 4.1% jump to $616.9 bn.

December E-mini S&Ps this morning are up +0.19% as the market awaits Q3 company earnings results, while European stocks are down -1.26% at an 8-month low after the German Oct ZEW investor confidence fell for a 10th month to a nearly 2-year low and UK Sep inflation slowed to a 5-year low.