Quick Profits Are Expected for the Retail Sector This Thanksgivin
We are heading toward the key Thanksgiving “Black Friday” to “Cyber Monday” retail sales period, and if all goes well, there could be some quick profits to be made in the market.
In 2011, strong retail sales on Black Friday gave a boost to the stock market, as the S&P 500 climbed nearly nine percent between November 25 and December 7, 2011.
The same could happen this year, except we still need to deal with the pending fiscal cliff.
Yet I feel that a strong showing in retail sales during the four-day key selling period beginning on Friday could help to attract some buying from Wall Street—a near-term boost, at the least, for a market that is full of uncertainties.