The Dow Jones, S&P 500, and Nasdaq all finished down on Cyber Monday. Consumer spending was up in November. American’s on average spent about $3 more a day in November than in October. Fast food workers are going on strike to protest the minimum wage. Workers in approximately 100 cities will protest on Thursday to raise minimum wage, which is currently $7.25 an hour equaling around $15,000 a year. Many of the protesters are wishing for $15 an hour but it is more than likely that if any changes are made to the minimum wage it will meet in the middle around $10.10. Amazon (AMZN) is testing a new way to deliver packages, by using drones. Drones could speed up delivering packages, but the technology to make it happen is still three to four years away. Manufacturing activity grew in November and the index rose to the highest since early 2011. The index rose from 56.4% to 57.3% in November and the index of new orders rose 3% in the past month too. The jobs report is scheduled to be released on Friday and many are speculating the outcome of this report. Predictions have been made that if the numbers are better than expected the Federal Reserve could begin tapering its spending sometime this month.
Word on the Street
- Microsoft (MSFT) and Nokia (NOK) get the nod of approval by the Department of Justice.
- Yahoo (YHOO) purchases new technology that allows you to talk to computers.
- Xbox (MSFT) wins the battle over Play Station 4 (SNE) on Black Friday sales.
- Cloud software is changing the world.
- Blackberry (BBRY) no longer looking for a buyer.
- Five stocks to watch in December.