Monday, November 26, 2012

Dow Jones Industrial Average Index Up Last Week

US equities closed the week on a positive note during its shortened trading session last Friday, as investor sentiment was boosted by optimistic data from Germany and China.

The Dow Jones Industrial Average index leapt 172.79 points to 13,009.68 while the S&P500 index soared 18.12 points to close at 1,409.15.

This year, sales on Black Friday were noticeably lower as much of the shopping began on Thanksgiving last Thursday.

Retail technology company ShopperTrack reported that consumers spent US$11.2 billion at stores across the US last Friday, 1.8% down year-on-year.

According to the report, this year’s results appeared to have been tempered by shoppers hitting sales starting Thursday night.

Moreover, online shopping has cut into the pie with IBM sales jumping 17.4% year-on-year on Thanksgiving day and 20.7% year-on-year on Black Friday.

On the other hand, Shoppertrack also reported that retail foot traffic had climbed by 3.5% to more than 307.67 million store visits.