Monday, November 30, 2009
Dubai Party Ending?
There was extremely low volume session on Friday which saw in declines stocks on "Black Friday". The SPX declined 19.14 points to end at 1091. We are in the green and looking ok.
The declines in the US followed the declines saw worldwide in the back of the news that state owned Dubai World would be suspending interest payments for six months on their bonds.
The Friday after Thanksgiving is considered one of the biggest days for retailers. Early results show that there was more traffic and fuller carts this year than last, but much of this had to do with huge discounts offered by retailers. The fact that unemployment remains high is a concern for consumer spending, although an improvement in housing prices and gains in the stock market should help....
Retailers will continue to get plenty of attention thisw week, but the spotlight will be firmly on the jobs market. Several job related reports will be released next week, culminating in biggie on Friday the employment situation report. Other notable data include the ISM Mfg. Index and the Fed's Beige Book later this week.
We will also have to see if there will be any further fall out from the Dubai debacle.
Until next time.
The declines in the US followed the declines saw worldwide in the back of the news that state owned Dubai World would be suspending interest payments for six months on their bonds.
The Friday after Thanksgiving is considered one of the biggest days for retailers. Early results show that there was more traffic and fuller carts this year than last, but much of this had to do with huge discounts offered by retailers. The fact that unemployment remains high is a concern for consumer spending, although an improvement in housing prices and gains in the stock market should help....
Retailers will continue to get plenty of attention thisw week, but the spotlight will be firmly on the jobs market. Several job related reports will be released next week, culminating in biggie on Friday the employment situation report. Other notable data include the ISM Mfg. Index and the Fed's Beige Book later this week.
We will also have to see if there will be any further fall out from the Dubai debacle.
Until next time.
# posted by Paul @ 2:37 AM 
