Despite A Lackluster Black Friday, Economic Fundamentals Look Good
Published Wednesday, December 31, 1969 at: 2:00 PM EST
With stocks closing the holiday-shortened week fractionally higher on Friday, business headlines were reporting that Black Friday sales at retailers were disappointing, leading some to worry about a slowing economy.
"America's annual Black Friday shopping extravaganza was short on fireworks this year as U.S. retailers' discounts on electronics, clothing and other holiday gifts failed to draw big crowds to stores and shopping malls," Reuters reported Friday.
"Crowds on early Black Friday morning were thinner than years past at some malls and shopping districts," The Wall Street Journal reported. "Thinner crowds could spell problems for retailers, some of whom entered the holidays warning of uneven consumer demand and elevated levels of inventory. But the smaller crowds could also reflect deeper changes in how Americans shop: Increasingly, they are spending more online and making fewer visits to stores."
This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation. Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.
2021
-
Fed Says It Will Stick To Its Plan, As Bond Yield Rises
-
Amid Strong Crosscurrents, Stocks Sank 2.5% This Past Week
-
A New Rover Landed On Mars And Stocks Closed Lower For The Week
-
Ironically, Amazon Profits By Perpetuating Stock Bubble Myth
-
Stocks Closed At A New Record High: Can The Party Last?
-
Don’t Fall For It
-
Housing Boomed Again In December
-
The Bad And Good Financial News This Week
-
Stocks Set New High Closing Price Amid Turbulence
-
Stocks Gained +16% in 2020; Wall Street Expects +7.6% In 2021