Cyber Monday Sets Record Number of Sales; Detroit Could Cut Pensions
The S&P and Dow Jones finished below their milestones for the first time since achieving these milestones as all three indexes end the day in the red for the second consecutive day. Black Friday drove auto sales up for the month of November to an annual selling rate of 16.4 million, significantly higher than 15.3 million for a year ago. The U.S. Bankruptcy Judge is allowing the city of Detroit to file for bankruptcy and cites that pensions can be cut, much to the demise of many. It is expected that certain groups including retirees and unions will appeal this ruling. Cyber Monday sales set records yesterday after sales were up 16%, setting a record $2.29 billion.
Word on the Street
- Should you buy Tesla's (TSLA) stock? Morgan Stanley thinks so.
- Smartphones lead the way on Cyber Monday shopping.
- Is the city of Detroit going to file for bankruptcy?
- Motorola (MSI) offers apology after failed promotion on Cyber Monday.
- District of Columbia is voting today to raise the minimum wage.
- Is it time for Abercrombie & Fitch (ANF) to find a new CEO?
- 3M Co. (MMM) shares off after Morgan Stanley downgrade.
Published on Dec 3, 2013By InvestorGuide Staff