• Reality Check: Why The "Millennial Boom" Won’t Save The U.S. Economy

    World-renowned demographer Neil Howe explains why Wall Street’s optimists should prepare for a “grim” U.S. economic outlook. Read the report free.

Editor's Note: Below is a chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.

CHART OF THE DAY: Italy Enters Recession - zpi

Spanish stocks are leading losers again this morning. Italy has entered a recession. German Retail Sales #slowed to a cycle-low of -2.1% year-over-year in DEC and French Consumer Spending plunged -400 basis points to -2.1% year-over-year in DEC too. 

We’ve not been “Long Europe” for well over a year now. Sure, there have been many bear market bounces that we could have chased. But we don’t chase. We stay with the #process. 

CHART OF THE DAY: Italy Enters Recession - Chart of the Day