Financial Review

Shoppers Reign


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…Holiday shopping is strong. GM closing plants, firing workers. Microsoft passes Apple. Climate report released Friday tries to buy the bad news. Financial Review by Sinclair Noe for 11-26-2018 DOW + 354 = 24,640 SPX + 40 = 2673 NAS + 142 = 7081 RUT + 17 = 1505 10 Y + .02 = 3.07% OIL + 1.19 = 51.61 GOLD – .70 = 1222.60 Cyber Monday is expected to generate $7.8 billion in sales, up nearly 18% on last year, which would make it the biggest online shopping day in the US. That’s more than the $6.2 billion in online sales for Black Friday, up nearly 24% on last year. The total amount spent on Thanksgiving Day this year was a record breaking $3.7B … in digital sales alone. That’s roughly $45M per second. But it still pales in comparison to China’s $30.8 billion in spending on Alibaba Singles Day last month. Some stores started their Cyber Monday sales early. Macy’s has been offering “cyber week” deals until Wednesday. Amazon has been promoting “Cyber Monday Week”.   Total spending for Black Friday weekend is predicted to reach roughly $59 billion, according to estimates by GlobalData Retail. That represents an increase of 5.7% over 2017 sales during the same period — Thanksgiving Day to the following Sunday — and the best growth rate in the United States since the post-recession Black Friday boom in 2011. However, the sales explosion created some new problems for retailers. Sold-out goods proved to be ...
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Financial ReviewBy Sinclair Noe