Long queues began forming by Thursday afternoon outside of most major retailers as shoppers got ready for Black Friday, while online sales also exhibiting a robust opening.
Figures from Adobe Analytics revealed that US consumers spent a record $7.90 billion in digital shopping on Black Friday and Thanksgiving, an increase of 17.90% from a year earlier. On the economic data front, a November survey of purchasing managers showed that the private sector grew at its slowest clip in four months. The IHS Markit Flash Manufacturing PMI slipped to 53.8 in November from 54.6 in October, while the Services PMI gauge fell to 54.3 from 54.6 in the prior month. S&P 500 futures rose 0.20% to finish Friday at 2,601, with all the three major US equity benchmarks notching their first weekly gain in three weeks.
S&P 500 Powers Through 2600
Daily Analysis - 27/11/2017