Hi dears! How was your Thanksgiving? I bet you had a great time with family and friends. New week comes, now just be back with the financial market to see what Pitguru Frank LaMantia notes for you in the new trading week!


Retail sales seem to be strong as the holiday season began the end of last week. Online spending is up over 14% from Thanksgiving through Saturday. Investors have been timid with spending since the recession. Consumers being the driving force of the economy could also be the factor that helps the economy break out of its stagnation. The government may not want to count on the consumer to spend when jobs are not being created and salaries are being lowered or capped. Retail sales numbers will show if consumers are spending but this will have to wait until after the holidays.

Stocks seem to be down today as Ireland prepares to accept over $90 billion in rescue loans. There are few European countries that may follow such as Portugal and Spain which may keep investors more cautious over the next few weeks. A few economic reports this week will keep traders on their toes. Tuesday consumer confidence numbers and manufacturing data will be announced. Also, just as important Friday the Labor Department will announce November’s employment numbers. It is known that jobs are added during the holidays but how many? Temporary jobs may not have an impact on the markets.

The dollar seems to be reacting well as mentioned a few weeks ago. Once the dollar hit its low 74-75 area it bounced due to a few factors such as a sell-off in the stock market and a falling Euro due to an increase of debt in Eurozone. The US. Dollar Index is up 0.574 to 80.931 which is positive news as concerns have been growing over its value.

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