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Stock Dec 2017 - "Post-Thanksgiving News Cheers Markets”

Stock Dec 2017 - "Post-Thanksgiving News Cheers Markets”

Stock Dec 2017 - "Post-Thanksgiving News Cheers Markets”

Excerpt


Post-Thanksgiving News Cheers Markets



As November drew to an end, market indices approached record levels buoyed by strong economic data and reassured by the testimony delivered to the Senate Banking Committee by Federal Reserve Chairman nominee Jerome Powell.

The Conference Board’s consumer confidence index for November 2017 hit the highest point recorded in almost 17 years. Economists had predicted an increase to 124, but the November statistics beat predictions for elevations to 129.5. News from the housing sector was good, too, with single-family home sales hitting a 10-year high in October. Also, retail analysts were pleased to see strong preliminary sales data for Black Friday and Cyber Monday, and noted that the strength of post-Thanksgiving retail shopping suggested that an equally strong holiday shopping season lies ahead....


 



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