Market update: Markets to take a nap from recent gains?

Wall Street finished barely changed on Friday (S&P 500 flat; Dow Jones +0.1%), although closed the week in positive territory to cap its longest winning streak – 7 weeks – since January 2011. After equities’ climb, investors are wary of altering their risk exposure ahead of further drivers. In macroeconomic news, the Federal Reserve Bank of New York’s general economic index climbed to its highest level since May 2012, surpassing estimates. Industrial production data slipped unexpectedly, however, following the biggest surge in three decades, as output at factories declined. At the stock level, shares in Burger King Worldwide added 4.7% after beating consensus predictions for fourth-quarter profits, while Wal-Mart Stores slipped 2.1% after a weak start to February sales was reported.

European markets are slightly down at the time of writing (FTSE Eurofirst 300 -0.2%; FTSE 100 -0.1%), with the mood subdued following a disappointing update from Carlsberg. The Danish brewer said that sales had fallen in Western Europe and stalled in Russia. Markets could be quiet later today: although Asian traders have returned after a week of Chinese New Year celebrations, the US will be closed in observation of Presidents’ Day.