Europe heads higher on German data, U.S. records

• German retail sales and record index advances in the U.S. fueled European stocks higher today, pushing the DAX up a staggering 16.4% YTD.
• Retail sales rose by more by 2.9% M/M and 5.3% Y/Y in January, heavily beating economists' forecast for a 0.3% M/M decline.
• U.S. stocks also began the new month in strong style, with the Nasdaq closing above the 5,000 level for the first time since March 2000, yesterday, and the Dow and S&P 500 also setting records.
• FTSE 100 +0.3%; DAX +0.3%; CAC 40 +0.3%; Euro Stoxx 50 +0.3%.