Hefty consumer discounts during a robust Black Friday weekend helped boost November U.S. auto sales between 4 % and 5 %, which could catapult results this year above a record high in 2015, economists and industry analysts said.
Faith Ruggieri, standing in the damp and chilly night air outside a Walmart in Providence, Rhode Island on Black Friday, represented a hopeful sign for traditional retailers squeezed by online rivals such as Amazon.com Inc.
Spending on the four days starting with the Thanksgiving holiday rose 1 percent from a year earlier to $22.2 billion, with fewer people hitting stores while spending more, according to researcher ShopperTrak.
The first spending decline on a Black Friday weekend since 2009 reinforced projections for a lackluster holiday, increasing chances retailers will extend the deep discounts already hurting their profit margins.
As with the Treasury market, not much was said about equities other than the speculation as to how the retail sector would do on Thanksgiving and then again on "Black Friday" when shoppers went "wild."