Today is, of course, Cyber Monday when more than 88 million consumers are expected to shop for online bargains from home and work. Many retailers such as Wal-Mart (NYSE: WMT) are offering consumers many great deals and discounts, reports Parija B. Kavilanz for CNNMoney. However, the busiest online shopping day tends to be later in December. The iShares Dow Jones U.S. Consumer Index Fund (NYSE: IYC) and the Consumer Discretionary Select Sector SPDR (NYSE: XLY) are both up fractionally today. (For more stories on the retail industry, please see our retail category).
Goldman Sachs Analyst Sal Tharani today upgraded the steel sector to “attractive” from “neutral.” Tharani believes the steel industry is poised to exit the recession as steel markets improve and prices improve, said the Associated Press. The Market Vectors Steel Index ETF Fund (NYSE: SLX) is up up more than 5% today and is up 89.7% year-to-date. (For more stories on the steel sector, please see our steel category).
The markets were encouraged by the Chicago PMI report. Businesses in the region expanded more in November than at any period in the prior 15 months, says Rex Nutting for MarketWatch. The index had been as low as 31.4% in January, but rose to 56.1% in November.
Tony D’Altorio contributed to this article.