\n\tBy Greg Peel<\/p>\n
\n\tReports suggest cars are already being parked in prime spots at US shopping malls despite it being a public holiday. The idea is to leave the family truckster overnight and be dropped off tomorrow before doors-open ready to rush in and grab all the pre-Christmas bargains. Retailers offer special Black Friday-only deals for those who like to spend their break worshipping the consumption gods.<\/p>\n
\n\tIt was Thanksgiving last night in the US and tonight is typically the biggest shopping day of the year – something akin to Australia's post-Christmas sale stampede, only before the event and not after it. Black Friday (as in “in the black”) sales figures are considered the gauge as to whether or not it will be a good Christmas for retailers. With the US economy currently languishing, and the consumer representing 70% of GDP, this year's Black Friday is of even greater importance than past years.<\/p>\n
\n\tWe won't know the final results until Monday night nevertheless, and in between we have an abbreviated market session tonight in which the NYSE closes at 1pm instead of 4pm. Only a handful of disgruntled juniors will be on hand while everyone else has a four-day break.<\/p>\n
\n\tGlobal markets can occasionally become volatile when all US markets are shut, but not last night. Stocks were up around 0.75% in London and Frankfurt, with the UK rise being related to a local takeover offer in the retail space and the German rise being a reflection of soothing words from a European Commission spokesperson who suggested the EU-IMF emergency fund was plenty big enough to cope with any European debt contagion.<\/p>\n
\n\tMeanwhile, austerity protests are being planned for the weekend in both Ireland and the UK.<\/p>\n
\n\tMovements in all markets were of little consequence last night. The US dollar index ticked down slightly to 79.68, the Aussie was steady, gold was steady, oil gained US32c to US$84.18.bbl and base metals were steady except for lead and zinc which were up 4% and 2% respectively in thin trade.<\/p>\n
\n\tThe SPI Overnight fell 4 points.<\/p>\n
\n\tHappy Thanksgiving to our North American readers and our local ex-pats.<\/p>\n
\n\tHere we give thanks to Peter Siddle.<\/p>\n
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