Thanksgiving week was a short week in the markets, and slightly positive. The S+P gained almost a percent and the Dow gained about ½ of a percent. The 10 year treasury was almost unchanged at 1.77%.
Economically, there were few surprises. Consumer confidence dipped a little, pending home sales did likewise. On a positive note, care inflation was practically flat, and consumer spending was just slightly above expectations.
Next week’s data will be particularly telling as we see how consumers acted over the Black Friday, Cyber Monday weekend. Additionally, the beginning of November’s data will come in, including unemployment numbers for that month.
~ Alex
