Black Friday Is No Blockbuster (YahooFinance)

Holiday shopping kicked off this past weekend with Americans spending more than $54.7 billion during the Thanksgiving holiday period. Unfortunately, the retail industry watchdog ShopperTrak reports that $54.7 billion is 3 percent lower than last year’s haul for the same weekend. And it’s the first time in seven years that spending hasn’t grown. Retailers don’t expect it to get much better any time soon, according to GameStop Corp. CEO Paul Raines. “Consumers are stressed,” Raines said. They’re still under a lot of pressure from things like high unemployment… We see that in our business.” Certainly, that’s not what investors hope to see to close out the 2013 year.

Wayne Ellis

Wayne Ellis has been involved in the financial publishing industry for more than 15 years. During that time, he has helped to edit, to market and to launch products and services for Ernst & Young, LLC, Fidelity Investments, Agora, LLC, and Eagle Financial Publications. He currently puts his broad-based experience and industry expertise to use as a contributing writer for Eagle Financial Publications. He also is a graduate of Arizona State University.

Recent Posts

Sample Weekday Wrap/Closing Comments

This content is for paid subscribers only. To gain access subscribe to one of our…

2 months ago

Soft Landing Premise Still Driving Bullish Narrative

It is hard to find a seasoned investor who doesn’t believe the stock market is…

6 months ago

Are You Prepared for the Next Market Collapse?

No one believes a financial disaster can strike… until it’s too late. That’s bizarre, considering…

1 year ago

Options Industry Council (OIC) – What is It?

The Options Industry Council is a resource used to educate investors about the benefits and…

1 year ago

Put-Call Parity – Defined and Simplified

The put-call parity is the relationship that exists between put and call prices of the…

1 year ago

Three Cheers for the Magnificent Seven

“It’s not a stock market, it’s a market of stocks.” -- “Maxims of Wall Street,”…

1 year ago