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U.S. stocks rose significantly with EBay and Amazon taking the lead in Black Friday sales, according to Bloomberg. Both companies gained with 1.5 percent. Coach and Best Buy Co. also increased in the Black Friday rush. With a rise of 1.4 percent Apple Inc. sold three out of every four smartphones in Japan. The S&P 500 rose with 0.3 percent. It is expected to make its eighth straight gain since 2004. S&P trading decreased with forty-one percent which is below the thirty day average. U.S. markets were also closed yesterday for the Thanksgiving holiday. Trading will end today at 1 PM.
Co-founder and chief investment officer Aaron Izenstark commented, “The general mood is that we’re going to have growth this year in terms of holiday season shopping, though probably less than before the crisis. There is an expectation in the market that it has started out on a positive note, so I do think that is definitely driving thoughts today in the marketplace.†The S&P is expected to make its third straight monthly gain with a rise of 3.2 percent. With a twenty-seven percent climb this year it is headed for its best year since 1997. The Dow has also gained twenty-three percent. Investors will be enjoying cream with their pumpkin pie on that note.
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