Reuters - Video

EDITION: U.S. | U.K. | IN

Top News

Wall St. ends multi-week slump

Friday, 23 Nov, 2012 - 01:36

Nov. 23 - Summary of business headlines: Stock rally boosted by Black Friday hopes; Macy's CEO says ''fiscal cliff'' not impacting consumer spending; Europe sees best weekly gain of the year. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

Wall Street is feeling jolly as the key retail season gets underway. Stocks rallied for a fifth day, with major indices up 1-1/3 percent in a holiday-shortened trading session. That helped blue chips end a four-week losing streak and the Nasdaq stop six-weeks of declines. Black Friday is up and running. The unofficial start of the holiday shopping season began with long lines and crowded stores and consumers up early looking for the best deals. Seems like the hunt for a good bargain is more in focus than the fiscal cliff, contrary to some concerns. But Macy's CEO Terry Lundgren is not surprised. SOUNDBITE: TERRY LUNDGREN, CEO, MACY'S (ENGLISH) SAYING: "Businesses, before they are investing or spending capital, they are waiting to see what is the tax structure going to look like and where should they make their investments, but the consumer I think is going to still shop. They are going to take care of their kids and they are going to buy for their best friends and family for the holiday season. So I don't think it's been an issue thus far." Total holiday sales are expected to rise 4.1 percent this year, according to the National Retail Federation. Looking at blue chip consumer related stocks: Wal-Mart rallied close to two percent. Home Depot was up 1.1 percent. And credit card issuer American Express gained just under a full percent. It was more than just the American consumer putting Wall Street in buying mood. There appeared to be progress in helping Greece with its huge debt problem. And rare optimism sent U.S.-listed shares of Research in Motion higher as the company gears up for the much-delayed launch of the BlackBerry 10. As for the European trading day - stocks were up across the board, wrapping up their best weekly gain all year.

Wall St. ends multi-week slump

Friday, 23 Nov, 2012 - 01:36

Oddly Enough »

Riding a bike "side-saddle" Riding a bike "side-saddle"

Thu, 18 Sep, 2014 - (1:10)

Celebs speak up in Scottish independence debate Celebs speak up in Scottish independence...

Tue, 16 Sep, 2014 - (1:29)

Flying a plane using power of the mind Flying a plane using power of the mind

Tue, 16 Sep, 2014 - (1:55)

Philippines breeds its first baby penguin Philippines breeds its first baby penguin

Tue, 16 Sep, 2014 - (1:18)

Nowhere to hide for this horror film Nowhere to hide for this horror film

Mon, 15 Sep, 2014 - (0:48)

Mexico dishes up creepy crawly fare Mexico dishes up creepy crawly fare

Sun, 14 Sep, 2014 - (1:31)

Lion cubs the pride of San Diego Zoo Lion cubs the pride of San Diego Zoo

Sat, 13 Sep, 2014 - (0:46)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, 17 Dec, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sun, 09 Dec, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Mon, 10 Dec, 2012 - (10:39)

Moving Pictures »

Still missing – MH370 Still missing – MH370

Fri, 05 Sep, 2014 - (2:05)

Images of August Images of August

Fri, 29 Aug, 2014 - (1:00)

Burning Together Burning Together

Mon, 01 Sep, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, 22 Aug, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, 11 Aug, 2014 - (2:27)

Burned memories Burned memories

Fri, 08 Aug, 2014 - (3:02)

Images of July Images of July

Fri, 01 Aug, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, 11 Jul, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Thu, 03 Jul, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, 20 Jun, 2014 - (3:04)