Economic calendar: US retail sales and jobless claims in the market spotlight

• Stock indexes gain on both sides of the Atlantic; US100 gains 0.8% and DE40 gains 0.4%
• US retail sales in focus of financial markets   
• British GDP and industrial production below forecasts; slightly higher final CPI from Germany for December

Today's session is once again being dictated by the bulls, with indexes in Europe opening higher, buoyed by optimism in the technology sector, supported by strong quarterly results from leading global chipmaker TSMC (TSM.US). Markets will turn their attention primarily to retail sales, with whatever the data shows, it seems that it may be difficult to shrug off the positive sentiment. More companies will show results, from the U.S. financial sector and insurance giant, DJIA-listed UnitedHealth Group (UHG.US).

Economic calendar

• 1:30 PM GMT - US, retail sales m/m. 0.6% vs. 0.7% forecast 
• 1:30 PM GMT - US, core retail sales m/m. 0.5% vs 0.2% forecasts
• 1:30 PM GMT - US, benefit claims. 210k forecast vs 201k previously
• 1:30 PM GMT - USA, Philly Fed regional index. -5 vs -16.4 previously
• 1:30 PM GMT - US, export prices. 0.1% forecast vs. 0% previous
• 3 PM GMT - US, NAHB Real Estate Index. 45 forecast vs. 46 previous
• 3 PM GMT - US, Business inventories. 0.1% forecast vs 0.1% previously
• 3:30 PM GMT - USA, Gas inventories according to EIA. Expectations: -259 billion cubic feet (bcf) vs -40 bcf previously

Central bankers' speeches

• 9 AM GMT - ECB Patsalides
• 5:30 PM GMT - BoC Gravelle 
• 8 PM GMT - ECB Panetta

Financial results

Bank of America, Morgan Stanley, United Health Group