According to the National Retail Federation, the Thanksgiving weekend sales period saw purchases fall by -3.40% from a year earlier. Sales at retailers’ physical locations fell by over -5.00% per some industry estimates during the period compared to online sales climbing above $3 billion for Black Friday alone. Overall, surveys indicate that Americans plan to spend less this year during the holiday season than last, indicating that sentiment may be shifting. While warmer weather was the main culprit blamed for the latest development, weather is unlikely to be the primary driver of weaker spending as Americans tighten the purse strings. Stocks are weaker following the weekly reopening as the risk rally over the previous few weeks fades with Dow, Nasdaq, and S&P futures all opening lower and trending just shy of intraday lows.
Black Friday Optimism Dims
Daily Analysis - 28/11/2016