US stocks : Dow up 1.4 pct

Comments print
Agencies: New York, Nov 24 2012, 02:53 IST
Stocks.jpg
on the NYSE by 2,407 to 469 on the New York Stock Exchange. On the Nasdaq, advancers had the lead, with 1,775 stocks gaining and 548 shares declining.

The retail sector rose as investors looked for signs of how much consumers are spending as stores lured shoppers with Black Friday deals and discounts.

Black Friday, the day after Thanksgiving, kicks off the U.S. Christmas shopping season for retailers and is often the busiest shopping day of the year. The National Retail Federation expects sales during the holiday season to grow 4.1 percent this year compared with last year's 5.6 percent increase.

If the traffic and sales numbers look strong early on, it usually gives a sense that the season will be in line with expectations, said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

The way that could work against a stronger retail season is if there's no follow-through, there could be discounting on the part of retailers.

Wal-Mart rose 1.9 percent to $70.20, while Target gained 1.2 percent to $64.48.

Ads by Google
   Previous | 1 | 2 | 3
Previous Story  Farm min says policy flaw makes govt biggest wheat buyer, seeks CCI probe Next Story  UK stocks : FTSE 100 index up 0.5 pct
Reader's Comments| Post a Comment

Be the first to comment.

Post your Comment

Your email address will not be published. Required fields are marked *

Name *
Email *
Message *
 
captcha
please enter the above characters in the box below