Reuters - Video

Edition: U.S. | U.K. | IN | CN

Top News

Economic data lift Wall St. holiday hopes

Wednesday, November 27, 2013 - 02:11

Nov. 27 - Summary: Records on Wall Street as economy strides into the holidays; Bitcoin tops $1,000; CVS Caremark pays $2 billion to expand services; Judge clears tarmac for AMR, US Airways merger. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

PLEASE NOTE: THIS EDIT CONTAINS CONVERTED 4:3 MATERIAL You can call it a mild attitude of gratitude on Wall Street. Stocks continue their upward crawl to record highs and the Nasdaq holds above that 4,000 mark. Economists and retailers trying to guess what kind of holiday shopping season it will be, had a lot of numbers to consider. First-time unemployment claims surprisingly fell last week... And oil prices are at a six-month low thanks to a build in crude supplies. Lower gasoline prices should follow, which could put some extra change in consumers' wallets. Mortgage refinancings saw a slight increase last week - that too could provide shoppers with more cash. The mood of the consumer actually improved at the end of November, according to a survey by Thomson Reuters and the University of Michigan. But things are still expected to be tough out there for retailers, which are slashing prices like crazy. Britt Beemer is chairman and CEO of America's Research Group. BRITT BEEMER, CHAIRMAN AND CEO, AMERICA'S RESEARCH GROUP (ENGLISH) SAYING: "This is going to be most advertised driven shopper in the 35 years that I've studied Christmas. So what that means is what retailers have great deals - consumers are going to show up, but if they don't have good deals they are going to be retail museums." Looking at some key names: Amazon and Apple were noticeably higher. Wal-Mart and Macy's less so, but Best Buy was left out. By the way - looking for a stocking stuffer? How about Bitcoin? The digital currency not backed by any government cracked $1,000 for the first time in its short history, up from just $215 at the start of the month. Business activity in the Midwest expanded this month at a slower pace, but orders for large ticket items, known as durable goods, were depressed in October. On the corporate front: CVS Caremark digging deep to buy Coram, a drug infusion services provider, for $2.1 billion. And a bankruptcy judge clears the way for American Airlines and USAir to finally merge. The courts approved a Justice Department settlement forcing the two carriers to give up some airport spots. AMR now expects to close the deal by December 9th. Markets closed higher in Europe where they will be open on Thursday, but closed in the U.S. for Thanksgiving.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Economic data lift Wall St. holiday hopes

Wednesday, November 27, 2013 - 02:11

Editors' Picks »

Moving Pictures »

Images of December Images of December

Tue, 23 Dec, 2014 - (0:30)

Tsunami - unclaimed possessions Tsunami - unclaimed possessions

Tue, 23 Dec, 2014 - (2:23)

Images of November Images of November

Tue, 02 Dec, 2014 - (0:30)

Images of October Images of October

Mon, 03 Nov, 2014 - (0:57)

The world in a city The world in a city

Fri, 31 Oct, 2014 - (1:30)

Real-life superheroes Real-life superheroes

Tue, 28 Oct, 2014 - (1:44)

Dance of the northern lights Dance of the northern lights

Mon, 20 Oct, 2014 - (1:08)

Images of September Images of September

Thu, 02 Oct, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

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

Burning Together Burning Together

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

Sports And Leisure »

Diver Daley trains in Rio Diver Daley trains in Rio

2:50pm GMT - (0:55)

Drogba on his Chelsea hopes Drogba on his Chelsea hopes

Mon, 26 Jan, 2015 - (0:52)

NBA legend shoots from the hip NBA legend shoots from the hip

Wed, 14 Jan, 2015 - (1:13)

Tennis ace Murray proposes to girlfriend Tennis ace Murray proposes to girlfriend

Thu, 27 Nov, 2014 - (0:41)

Sports Spread: Tinkering Liverpool target Chelsea Sports Spread: Tinkering Liverpool target...

Thu, 06 Nov, 2014 - (11:18)

Flying car prototype takes to the skies Flying car prototype takes to the skies

Wed, 29 Oct, 2014 - (2:18)

Sports Spreads: Can van Gaal beat Mourinho? Sports Spreads: Can van Gaal beat Mourinho?

Thu, 23 Oct, 2014 - (12:39)

Dateline Asia »

Be afraid, the Chinese are spending less Be afraid, the Chinese are spending less

Mon, 26 Jan, 2015 - (1:33)

Asia markets shrug at Greek elections Asia markets shrug at Greek elections

Mon, 26 Jan, 2015 - (1:36)

Asia markets toast ECB stimulus Asia markets toast ECB stimulus

Fri, 23 Jan, 2015 - (1:42)

Asia Week Ahead: Markets await Greece vote Asia Week Ahead: Markets await Greece vote

Fri, 23 Jan, 2015 - (1:18)

Netflix to push play in China Netflix to push play in China

Thu, 22 Jan, 2015 - (1:41)

Japan in a tight spot over hostage crisis Japan in a tight spot over hostage crisis

Thu, 22 Jan, 2015 - (1:05)

Behind the pretty face of K-pop Behind the pretty face of K-pop

Thu, 22 Jan, 2015 - (2:09)

Record slowdown in China's economic growth Record slowdown in China's economic growth

Tue, 20 Jan, 2015 - (1:52)

North Korean defector changes his story North Korean defector changes his story

Mon, 19 Jan, 2015 - (1:03)

Reuters Investigates »

Where the sea is closing in Where the sea is closing in

Thu, 20 Nov, 2014 - (3:41)

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 - (13:22)

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

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