STOCKS NEWS US-Holiday sales may be down 4 pct -SpendingPulse

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U.S. stock market report [.N] 0905 ET 26Dec2008-Holiday sales may be down 4 pct -SpendingPulse ------------------------------------------------------------------------------

U.S. retail sales fell by as much as 4 percent during the holiday season, according to data from SpendingPulse. Sales were hurt as the economic crisis and weather problems kept consumers away from stores.

Michael McNamara, vice president of research and analysis at MasterCard Advisors, described the retail environment as "one of the most challenging... we've ever had in modern times." [ID:nN25540616]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0736 ET 26Dec2008-Crude oil rallies after Wednesday's drop ------------------------------------------------------------------------------

February crude futures rose on Friday, following a steep 9.3 percent dive on Wednesday, the previous trading day for the contract. The commodity was pressured on Wednesday after a government report showed an unexpected drop in crude oil inventories in the U.S.

The contract rose 2.8 percent to $36.33 on Friday.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0715 ET 26Dec2008-GMAC gets approval to become bank holding company ------------------------------------------------------------------------------

GMAC, an auto finance company that is partially owned by General Motors GM.N late Wednesday won approval to become a bank holding company, a move that will give it access to government lending programs that will help it stave of bankruptcy. [ID:nN24278654]