Traditionally the Friday after Thanksgiving has proven to be a positive day for the stock market. However, proving that past performance does not guarantee future results, early on this morning it is looking like our markets are content on ignoring the trends and going about the day at its own pace. With another poor Italian bond auction this morning and the fact that Belgium and Portugal saw their ratings downgraded it is going to prove very difficult to stage a comeback today.
On the positive side of things today, retailers seem to be experiencing strong demand from shoppers across the country looking for those great bargains. Some have even reported that they have sold more merchandise in the first four hours then they did all of Black Friday last year.
Eric Marvin, CFP®, CRPC®
JPT112511-1919
