Shoppers spent less than a year ago during the Thanksgiving weekend and that slippage weighed stocks down on Monday. Even though shoppers turned out in record numbers in the four days ended Sunday, they exhibited restraint and caused the first decline in Thanksgiving weekend spending since a retail trade group began tracking it in 2006. Investors reacted by selling retailer stocks, ranging from department stores to specialty chains. J.C. Penney, Target and Coach fell more than 1 percent each, while Urban Outfitters dropped 3.5 percent. The Dow Jones industrial average slipped 77.64 points, or 0.48 percent, to 16,008.77 at the close of trading today. The Standard & Poor’s 500 index dipped slightly to 1,800.90, down 4.91 points, or .27%, while the Nasdaq composite fell 14.63 points, or 0.36 percent, to 4,045.26. Investors sold stocks at the start of trading but share prices inched back after the government reported that developers boosted construction spending in October at the fastest pace in more than four years. A separate survey showed that manufacturing activity rose at its fastest pace in 2 ½ years. “This holiday season is not going to be a gangbuster,” said Lindsey Piegza, chief economist of Sterne Agee. “Retailers are bracing for declining activity from now to the beginning of the year.”
Stocks Dip as Thanksgiving Weekend Sales Lag
Like This Article?
Now Get a FREE Special Report:
3 Dividend Plays with Sky-High Returns
This newly-released report by a top-20 living economist details three investments that are your best bets for income and appreciation for the rest of the year and beyond.
Get Access to the Report, 100% FREE
PREMIUM SERVICES FOR INVESTORS
Dr. Mark Skousen
Named one of the "Top 20 Living Economists," Dr. Skousen is a professional economist, investment expert, university professor, and author of more than 25 books.
- Forecasts & Strategies
- Home Run Trader
- Fast Money Alert
- Five Star Trader
- TNT Trader
A former Wall Street financial advisor with three decades' experience, Bryan Perry focuses his efforts on high-yield income investing and quick-hitting options plays.
- Cash Machine
- Premium Income (exclusively for subscribers of Cash Machine)
- Quick Income Trader
- Breakout Options Alert
- Hi-Tech Trader
Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
financial journalist, and money manager. As well as a book author and regular contributor to
numerous investment websites, Jim is the editor of:
- Successful Investing
- High Velocity Options
- Intelligence Report
- Bullseye Stock Trader
- Eagle Eye Opener
Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.
- Retirement Watch
- Retirement Watch Spotlight Series
- Lifetime Retirement Protection Program
Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services:
- Investment House Daily
- Stock of the Week
- Technical Traders Alert
- Rapid Profits Stock Trader
Used by financial advisors and individual investors all over the world, DividendInvestor.com is the premier provider and one-stop shop for dividend information and research.
Popular tools include our proprietary Dividend Calendar, Dividend Calculator, Dividend Score Card, and many more.
- Dividend Investor