Effects of Sandy Linger With Jobless Claims; Companies Prep for Black Friday
PUBLISHED ON: Nov 21, 2012
(As of 2:45PM) Global markets were up on Wednesday as Greece comes closer to an aid deal with the IMF and ECB. European finance ministers plan to meet again next Monday in hopes of proceding with debt-reducing plans. A cease-fire agreement was reached in the Middle East, causing oil to hold just below $87 a barrel. In the US trading was light ahead of the Thanksgiving holiday. All three major indices were up mid-day. Weekly jobless claims held around the same level as last week, meeting expecations. November consumer confidence was slightly below what was previously forecasted for the month, most likely due to lingering anxiety over the impending fiscal cliff.Retail stores such as Amazon (AMZN) and Target (TGT) are receiving a lot of attention in the days leading up to Black Friday shopping. Wall Street will be closed on Thursday in the US and will end trading early on Friday.
Word on the Street
- How deals and discounts are changing the Black Friday spending landscape and holiday shopping season.
- Need help with your company's social media strategy? Take a cue from GE (GE).
Posted in ...Daily Market Commentary