Retail stocks slide on Black Friday
Strategic Resource Group Managing Director Burt Flickinger, FBN’s Deirdre Bolton and Susan Li discuss the recent decline in the retail sector.
Equity futures are pointing to gains when the market opens as oil bounces following Friday’s decline.
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Dow Jones futures were rising by 1.13 percent. The S&P 500 added 1.24 percent and the Nasdaq Composite was up 1.60 percent.
In Europe, the major indexes bounced at the open. London’s FTSE was up 0.9 percent, Germany’s DAX gained 1.1 percent and France’s CAC added 0.8 percent.
U.S. crude prices rose 1.4 percent after Friday’s plunge.
The final trading week of the month will feature reports on home prices, GDP and minutes from the last Fed meeting.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 24285.95 | -178.74 | -0.73% |
| SP500 | S&P 500 | 2632.56 | -17.37 | -0.66% |
| I:COMP | NASDAQ COMPOSITE INDEX | 6938.9839 | -33.27 | -0.48% |
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U.S. stocks fell Friday, led by weaker tech company shares, and crude oil prices extended their slump while retailers handled the annual Black Friday shopping spree.
Crude oil prices plummeted approximately 6 percent to their lowest levels this year on continued concerns about a global oversupply. However, the price decline gave a boost to airline stocks on prospects of lower fuel costs.
Tech stocks led the broader market’s decline, with Facebook and Apple falling more than 2 percent.
The day’s equity trading session marked the largest two-week point and percentage decline since the week ending March 23, 2018.
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In Asian markets on Monday, Japan’s Nikkei ended the day up 0.76 percent.
China’s Shanghai Composite finished the session off by 0.1 percent.
Hong Kong’s Hang Seng index added 1.7 percent.
