US stock benchmarks open lower after Black Friday boost

<p>Wall Street has opened lower this week after making gains on Black Friday’s retail spending boost.</p>

The US stock benchmarks have opened the week's primary trading session today (November 26th) on the back foot.

Wall Street ended Friday on a high as a result of the Black Friday sales following the Thanksgiving holiday in the US.

Retail technology company ShopperTrak estimated that consumers parted with around $11.2 billion (£6.9 billion) in shops throughout the world's largest economy on November 23rd.

However, this is 1.8 per cent lower than last year's total, with the number of people hitting the malls and shopping precincts being tempered in 2012 on account of the hundreds of thousands of people who took advantage of the discounts available online.

ShopperTrack said retail foot traffic was up by 3.5 per cent to more than 307.6 million stores visited, indicating that some individuals are happy to visit outlets and browse rather than buy.

At 16:10 GMT, the Dow Jones retreated by 0.5 per cent to 12934.2 points, while the Nasdaq inched marginally lower to an index value of 2904 points.

Find out about the Dow Jones and spread betting strategies at City Index.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.