Some businesses plan to close Thanksgiving

Some retailers and malls plan to close on Thanksgiving to save Black Friday.

A very different scenario than just a few years ago.

The Wall Street Journal says consumers are shopping more online and are spreading out their shopping over several days.

Retailers say they didn’t see that much benefit in opening on Thanksgiving Day and workers should be with their families.

Meanwhile a study from the consulting firm Accenture says 44 percent of consumers will spend more this year than last but they will also be looking for the best deals.

The survey found shoppers will look for coupons especially for new stores and apparel will be the number one item bought this year.

Stocks ended the day little changed but were down 184 points earlier in the day.

Stocks fell on weak Chinese trade numbers.

Banks are the big story today with Chase, Citi and Wells Fargo all turning in numbers.

And we also get retail sales numbers for September.

Mortgage rates are climbing higher.

They are anticipating a Federal Reserve rate hike later this year so that’s putting the cost of a home loan higher.

Freddie Mac says the 30 year rate is 3.47 percent, a 4 month high.

Bourbon lovers may want to stock up on their favorite spirit.

Union workers at two of Jim Beam’s Kentucky distilleries have voted to authorize a labor strike.

Experts say a prolonged strike, one that lasts several weeks, could result in Jim Beam bourbon product shortages on store shelves.

For more business headlines from Jane King at the Nasdaq, watch Daybreak Monday through Friday.

Categories: Daybreak, Morning Business Report

Leave a Reply

Your email address will not be published. Required fields are marked *