Wall Street shares fluctuated on Monday as investors gauged the fallout from Dubai’s debt crisis and weighed results from the first weekend of holiday shopping. The sales on the weekend after Thanksgiving provided a first snapshot of consumer spending for the holidays. Some 195 million people visited stores and shopped online over the weekend, up from 172 million last year, the National Retail Federation reported on Sunday. But total spending was virtually unchanged at $41.2 billion, and the average shopper spending fell to $343.31 a person, from $372.57 a year ago.
2 comments:
As the numbers from the post-Holiday shopping extravaganza are released there is not much to alarm many Americans. It is good to see that consumer spending has increased, but this is only due to more Americans shopping. The total per person has decreased since last year. It was also interesting to read that the crisis in Dubai is having an effect on the American Stock market. As this situation continues to unravel it will be interesting to see how it plays out here at home.
The mix of factors that are taking place in the US economy make it an interesting time to watch the stocks. As this article suggests, there are both positive and negative factors for the stock market (and the population) - namely holiday retail spending and the crisis in Dubai. Following these two issues will be important in the near future to see their further affects.
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