Market - - Nov 30,2016
Stocks all over the world rise with the frenzy of Thanksgiving and Christmas shopping
Black Friday, is almost a universal phenomenon, it is the high that the global markets, online sites, retailers, and business corporations get because of holiday spree shopping. Come winters and all people can think about are offers, sales or bargains that are bridged by brands and retailers all around the world, it’s Christmas literally and figuratively.
People line up in front of stores for hours and hours, ready to fight for products on discount; adults screaming and kids crying all around is the average scene of any retail store. Enter online shopping sites and more people sit at homes and shop for hundreds and thousands of things, profiting the retailers and making the stocks shoot.
A look at the global market data and one would realize that Black Friday is more like a golden Friday filled with golden opportunities.
US markets that have been facing a standstill since before the elections, are rising, they are up for a run and “a red hot run” if one was to quote CNN. U.S. stock futures are soaring, and if they hold on to their gains, a record high from Dow Jones industrial average and S&P 500 is expected. Dow and S&P 500 closed at their highest ever, as of Saturday S&P 500 gained 0.39%.
Despite reports that U.K.’s economy will slump post Brexit, the official data confirmed that U.K. grew 2.8% in the third quarter. Though the overall European gave a mixed review, the stocks have caught some speed; London’s FTSE 100 recorded a gain of 0.17% on Saturday itself while German DAX grew at a slight 0.09%.
Asian economy that has been slipping ever since, picked up a decent pace amidst China’s debt and Japan’s Tsunami; China’s Shanghai composite rose 0.6%, Hong Kong’s Hang Seng rose 0.51%, Japan’s Nikkei rose 0.26%
Various other markets of the world also observed gains, Mexico’s Mexican Bolsa rose 0.20%, Brazil’s Brazil Bovespa soared a 0.27%, and Canada’s S&P/TSX 60 gained 0.27% as well.