Online shopping is taking off. Amazon was the most visited online retailer followed by EBay and Wal-Mart`s site. It is reported that the online orders is twice as many on black friday this year than last year.
The trend is that the shoppers is planning to buy before they shop, and it is a lot of mission shopping going on. That is bad news for retailers because they lose their impulse purchase which is about 20% of their holiday sales.
The report Institute of Supply Management`s November manufactoring survey will be on the radar today. This is the most closely followed report, and gives a great snapshot on the economy for the recent month. It is expected to fall back to 55 in November (56,4 in October).
ADP data on private-sector employment, the trade balance, new home sales, ISM non-manufacturing index and FED`s Beige Book later this week are interesting news. Later on we have jobless claims, and a revision to third-quarter gross domestic product and factory orders.
News sometimes moves the markets. Money makers has lost faith in Gold and the gold price is dropping down, trading at $ 1235,90. Gold is set for the first annual drop in 13 years. News today: FED chairman Ben Bernanke speaks at 8:30am, ISM Manufactoring PMI at 10:00am.
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