Europe’s debt turmoil has stocks, exchange traded funds (ETFs) and investors cautious as speculation over a bailout for Ireland is on the table. Can Black Fridays sales save the retailers and salvage any good news?
- Ireland’s banks were downgraded to junk bond status, reports Lauren Tara LaCapra of TheStreet.com. Financials were lower on the news.
- Portugal took measures to fend off the speculative trades that are pushing it toward a bailout and Ireland negotiated the final terms on its own imminent rescue, according to Associated Press. This news has sent bond markets down. iShares MSCI Ireland (NYSEArca: EIRL) [3 Safe Haven Stock ETFs For The Euro Mess.]
- Donna Kardos Yesalsvich for The Wall Street Journal reports that overall U.S. stocks are down, as Black Friday has not yet materialized quite as retailers were hoping. So far, major indexes are down, and markets are closing up early today.
- Anne D’Innocenzio for Associated Press reports that retailers still have the chance to climb out of the red, and into the black, as the retail clamor rages on. Bargain shoppers braved cold weather and harsh conditions to get deals and there are estimates that shoppers are buying for themselves more this year, compared to last. Vanguard Consumer Discretionary ETF (NYSEArca: VCR) [Retail ETFs: Looking For A Black Christmas.]
Tisha Guerrero contributed tot his article.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.