The negative global trend continues today after the World Bank cut growth forecasts for 2015 and 2016 on increasing concerns over Europe and China. Investors across several markets reacted by moving capital towards safe havens such as the Japanese Yen and government bonds, while equities and commodities decreased further. Uncertainty continues to play a big role in the markets so far in January, as highlighted by the recent rally in the fear indexes such as the VIX and VStoxx.

US Market

Today in the US investors will likely focus on retail sales data for December as to gauge the health of consumer spending and evaluate whether the plunge in oil prices truly provided a boost to the economy.