Consumer Confidence and Retail Holiday Spending Will be Key for Remainder of the Year

Traders' reaction following the end of quantitative easing (QE2) was relatively muted. Consumer confidence data through the retail holiday season will be key factors through the end of the year.
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Traders' reaction following the end of quantitative easing (QE2) was relatively muted. Dan Cook, Market Strategist at Nadex, tells TheStreet’s Jill Malandrino the Federal Reserve was very clear and deliberate telegraphing the taper process so there was very little element of surprise to avoid a market shock. There is still some time to sort out what’s next or before there is a move in interest rates. Cook feels, outside of geopolitical tensions, there is not much in the market to prop up volatility at this point. GDP may catch some tailwinds and consumer confidence data through the retail holiday season will be key factors through the end of the year. Cook would look to the consumer cyclical sector as a way to trade this.