Regardless of impressive strength from Cisco on strong earnings and Facebook despite a lock-up expiration, weak economic data, uncertainty over the fiscal cliff, and the escalation of a military conflict between Israel and Palestine have conspired to keep the pressure on equities.

FORBES: U.S. Stocks Fall On Fiscal Cliff And Israeli-Palestine Conflict; Facebook And Cisco Shine

Amid a string of positive economic data, including a strong jobs report for September, solid auto sales and ISM numbers, the strength of the retail sales number contrasts starkly with the weakness exhibited by consumer sentiment.

FORBES: Big Miss On Consumer Sentiment But Barclays Raises Q3 GDP To 2.5%