NBA Agreement Reached. Black Friday sale recap. And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show November 27, 2011 on WSB Radio.
The big news, for sports fans and business interests alike on this Sunday after Thanksgiving is that an NBA agreement has been reached. The end of he lockout marks the return of a $4 billion industry – starting Christmas Day.
There is so much going on today as the holiday week ends and people get back on the roads home. Traffic is beginning to build. Black Friday sales had a good year, up by as much as 6.6 percent according to a number of reports.
Now that we got the good financial news out of the way, let’s talk about the bad:
- The DOW had an awful week – the worst since 1942. And typically the Thanksgiving week is a good one. We are down 7 percent from the yearly high and are now once again negative for the year. Trading was down 25 points on an abbreviated Friday, the seventh consecutive day of dips.
- Dark days for Europe – downgrades to Belgian and Hungarian credit ratings, coupled with an Italy bond auction that shot up to 7 percent have experts wondering if the end of the Euro is nigh.
- The CBOE volatility index now sits above 34.
- AT&T – The company will take a $4 billion charge, rendering it less likely that the giant will be able to take over T-Mobile.
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