Markets have been subdued all week as traders get ready for the Thanksgiving holiday and Black Friday. Volume should be light the rest of the week as everyone works to beat the weather and get home for the holidays.
Consumer confidence fell in November as the public perception on the job market continues to be bleak. New jobless claims fell 10,000 to 316,000 a new low for this economic cycle. (Reuters)
With just 28 days left till Christmas the holiday shopping season is front and center. Sales are expected to be up 3.9% this year. But discounters like Wal-Mart, Kohl’s and Target have lowered expectations as their target market still struggles with a slowly improving economy. (Associated Press)
Oregon’s often troubled air transport company, Evergreen International, is showing more signs of financial stress that has led to recent layoffs. Two recent lawsuits allege they have not paid suppliers $7.5 million and the Anchorage Downtown Marriott says they owe $77,000 in unpaid room charges. (Oregon Live)
Emerging markets have taken a beating this year as those countries have struggled to grow. The world’s second largest country, India, has seen below 5% growth for four quarters, the longest such period since 2005. Reductions in government spending have been hard on the domestic economy and employment in the country. (Bloomberg)