On Friday, November 25, 2011, the Dow and S&P 500 posted their worst percentage losses for Thanksgiving week since that of the Great Depression. The losses (-0.23% for the Dow, -0.27% for the S&P) are attributed in part to investors’ concern over the European debt crisis. This concern was reignited earlier in the week when Germany, one of the euro zone’s strongest performers, experienced a failure in one of its bond auctions.
Interestingly enough, this report came on a Black Friday that hailed record spending ($52.4 Billion, up 16% from last year's $45 billion). Will this apparent increase in consumer spending bolster the stock market come Monday?
http://money.cnn.com/2011/11/27/pf/black_friday/
-Cecilia Coetsee
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