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U.S. Stocks drop due to weak Black Friday sales

December 2, 2013 ,

Stocks slip on weak Black Friday sales

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Today – Monday December 2nd, 2013

  • U.S. stocks declined today due to weak Black Friday sales which means consumers are spending less thus raising concerns about the state of consumers.
  • In economic news data showed manufacturing unexpectedly climbed last month, increased to 54.7 from 51.8 the previous month.
  •  The November government jobs report out Friday after jobless claims and GDP on Thursday. The consensus forecast is for a creation of 185,000 jobs, down from 204,000 the prior month.
  • Given the underwhelming Black Friday sales, investors will be watching Cyber Monday shopping figures for further clues about the health of the U.S. consumer.
  • The S&P 500 dropped 0.3 percent to 1,800.90 at 4 p.m. in New York, after earlier rising as much as 0.2 percent. The Dow Jones Industrial Average lost 77.64 points, or 0.5 percent, to 16,008.77.
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