Many Americans are using today to prepare for Thursday’s Thanksgiving holiday! But even though tables are being set and stomachs are beginning to growl, the stock market continues to move.
In fact, there was some disturbing news Wednesday morning as jobless claims came out. We found them to be the biggest losses in the past five months. For anyone waiting for that “V-shaped” recovery to start, we may not be as close as we had initially hoped.
Stock Market History Lesson…
It was recently reported that the Dow has had its best month since January 1987. Now anyone who has been following the markets for a while, or is at least familiar with market history, knows what came in October 1987.
For those of you who are unaware, I’m referencing “Black Monday.” This is the day the markets spiraled out of control and eventually crashed by the closing day bell. If you’re a believer in history repeating itself, I would pay close attention to market movements the months ahead.
The Retail Sector
In addition to these latest updates, we’ve also seen record mortgage demands happen over the past few days, and a bit of nervousness within the retail stock sector. Now, those of you who live in the materialistic world know that most Americans have probably heard of “Black Friday.”
This event occurs the Friday after Thanksgiving every year and often results in massive global retail spending. A lot of retailers wait all year long just for this day. Usually, they see sales skyrocket on Black Friday. But with 2020 being such a hard year for so many brick and mortar stores, will Black Friday and holiday sales be enough to help bring up their projected annual revenue — and the retail sector sector?
With the retail sector in the hole and jobless claims going up every day, is there anything that can come along this late in the game to help save us from potential economic disaster?
Join me today as I sit with WealthPress Head Trader Roger Scott to discuss these topics and much more to prepare you for the holiday season… and for the bumpy road ahead.
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