Nasdaq Closes Above 4,000; Consumer Confidence Falls

Nasdaq closed above 4,000 for the first time since 2000. Men's Warehouse (MW) put down an offer to buy Jos. A. Bank Clothiers (JOSB) today for approximately $1.2 billion. Hyundai looks to dive further into the luxury cars market as it revealed its new Genesis sedan today. The sedan has been completely redone since it was first created in 2008 and the U.S. should be able to purchase this luxury vehicle early in 2014. Housing prices seem to be on the upswing as prices in September were up 13.3% from a year ago and are back to 2004 prices. Consumer confidence falls to a 7-month low at a bad time as the holiday shopping season is fast approaching.
This drop is mostly due to many Americans being concerned about the economy forecast for the next six months. If the Federal Reserve decides to cut interest rates there could be some drastic consequences. Banks may take the step of charging a fee for deposits. As this fee will probably not effect consumers, it could have a substantial impact on businesses.

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Published on Nov 26, 2013
By InvestorGuide Staff

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