Data from comScore says that U.S. consumers may spend $1.2 billion online Monday, smashing last year’s $1 million record. Morgan Stanley expects a 2-3% increase in same-store sales for the holiday season, in line with the consensus, reports Forbes.
Analysts are still watching to see if consumer behavior in the U.S. remains consistent as a sluggish job market and negative stock market sentiment are still factors. Nevertheless, the holiday shopping season has started off solid for 2011.
HOLDRS Retail NYSEArca: RTH) was up 2.1% on Monday, while the PowerShares Dynamic Retail (NYSEArca: PMR) gained 2.3%.
Tisha Guerrero contributed to this article.