Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

T3's Take 3: Markets Are Stuffed Up After Thanksgiving

By

Today's financial recap and tomorrow's financial outlook.

PrintPRINT
Want to Save Up to $720 on Your Next T3 Live Purchase?

Click here to check out all our deals.

All subscriptions include a 30-day money-back guarantee, so this is a great time to add a new service!


Chinese Stocks Beat Up

Chinese shares fell over 5% today over regulatory and industrial sector worries.

The China Securities Regulatory Commission said it is going to ban derivatives financing for equity trades.

Regulators are also taking a deeper look into other securities industry practices, which could result in less risk-taking by brokerage firms. Traders are also worried about pending IPOs, which could result in a bigger available supply of equities. 

To top it off, China also reported a 4.6% drop in profit in the big name industrial companies, and a decline in its Leading Index.

Market Roundup

The markets appeared 'stuffed' from the Thanksgiving holiday.

Overall, not much happened in the shortened trading session. The S&P 500 gained 0.1% to close at 2,091.11. Not to be outdone, the NASDAQ finished slightly better, up 0.0.3% due to strength in biotechnology stocks.

However, neither the S&P 500 and NASDAQ could keep pace with the Russell 2000, which led the way for the third straight session, finishing up 0.4%.

The Transportation ETF (IYT) pushed higher after pulling back earlier in the week to finish up 0.5%.

On the flip side, Gold (GLD) could not handle the pressure and broke down today. GLD broke below the $102.00 level and closed down 1.2%.

Holiday Sales

While the holiday sales season appears to start earlier and earlier each year due to heavy competition for shoppers, headlines regarding Thanksgiving and Black Friday weekend sales dominated the tape today.

According to the Adobe Digital Index, online sales rose 22% between midnight and 5 p.m ET on Thanksgiving Day.

IBM's (IBM) predicts that online sales will rise 14.5% on Black Friday, led by mobile shoppers. It expects the Apple (AAPL) Watch, Microsoft's (MSFT) Surface Pro 4, and televisions from Sony (SNE) and others to be popular.

comScor (SCOR) predicts online sales growth of 14% this holiday season, with mobile commerce growing by 47%.

The National Retail Federation said it expects 135.8 billion Americans to shop online or in stores this weekend, a 1.6% year-over-year decline. 

Holiday Sales

While the holiday sales season appears to start earlier and earlier each year due to heavy competition for shoppers, headlines regarding Thanksgiving and Black Friday weekend sales dominated the tape today.

According to the Adobe Digital Index, online sales rose 22% between midnight and 5 p.m ET on Thanksgiving Day.

IBM's (IBM) predicts that online sales will rise 14.5% on Black Friday, led by mobile shoppers. It expects the Apple (AAPL) Watch, Microsoft's (MSFT) Surface Pro 4, and televisions from Sony (SNE) and others to be popular.

comScor (SCOR) predicts online sales growth of 14% this holiday season, with mobile commerce growing by 47%.

The National Retail Federation said it expects 135.8 billion Americans to shop online or in stores this weekend, a 1.6% year-over-year decline. 

Monday Preview

On Monday, the ISM Milwaukee, Chicago PMI, Pending Home Sales, and Dallas Fed reports will be released.

Overseas, Australia will deliver its Economic Outlook, Manufacturing PMI, Cash Rate, and Rate Statement. China will release its Manufacturing PMI.

58.com (WUBA), Infloblox (BLOX), NQ Mobile (NQ), and Thor Industries (THO) report earnings.

< Previous
  • 1
Next >
No positions in stocks mentioned.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE