Strong U.S. retail sales in November highlighted the resilience of the U.S. economy, though ongoing labour-market weakness could still weigh on consumption. The Federal Reserve’s Beige Book showed that economic activity increased across most districts, while employment conditions remained broadly unchanged in recent periods. U.S. equities closed lower on Wednesday, with the Nasdaq leading the declines as technology stocks weakened and investors rotated toward more defensive sectors. Bank stocks extended recent losses after several lenders reported mixed quarterly earnings. The Dow Jones Industrial Average slipped ... (full story)