Headlines discussed at LNWM’s Monday morning briefing:

— U.S. economic growth for 3rd quarter 2015 was revised upward to 2.1% (from 1.5%).
— The Nat’l Retail Federation expects smaller gains in U.S. holiday sales this year (3.7% vs. 4.1% in 2014).
— Emerging markets sold off on China worries and tensions between Russia and Turkey.
— The European Central Bank is expected to announce more stimulus next week to prop up economy.
— Japan will increase government spending by an estimated $25 billion annually to combat recession.

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