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Sunday, November 30, 2008

Nov 30th. The Stock Market, the week ahead

Black Friday turned out to be not as bad as expected, although steep discounts were given. Bargain hunting is trump this year. Tomorrow (Monday Dec 1st) is 'Cyber Monday' in the U.K.
The markets had a very good week last week, we can expect profit taking in the next days. The terrorist attack in Mumbai can have a profound psychological impact om the (Asian) markets as well. Torrow morning we can give more news and the latest updates.

When you want to get detailed financial information take a look at CNBC TV in the morning,

Wall St Week Ahead: Stocks eye dour jobs, shopping data

NEW YORK (Reuters) - Wall Street may struggle this week to build on its best weekly performance in almost 30 years as investors grapple with a raft of economic data, including the November jobs report, that will likely provide more evidence of a deep economic downturn.
This week, investors will keenly watch retail sales to see if consumers opened their wallets and began buying gifts on Black Friday, as the day after Thanksgiving is known. It's the traditional start of the holiday shopping season and usually one of the year's biggest shopping days.
But this time, holiday sales forecasts are grim as the end of easy credit and rising unemployment have made consumers more frugal.
Wall Street ended last week's holiday-shortened run in the black, snapping a weeks-long losing streak as investors were encouraged by the U.S. government's bailout of Citigroup.

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