|
Retail stocks on sale?
|
 |
December 26, 1997: 8:01 a.m. ET
Disappointing holiday sales may put pressure on stocks of major retailers
|
NEW YORK (CNNfn) - Disappointing results from the holiday shopping season may begin to have an effect on the shares of retail companies during Friday's shortened trading session.
Preliminary figures seem to show that once again, Christmas sales will not be up to par, the third year in a row that that has happened.
Stocks which might feel post-holiday blues include Sears (S), up 3/8 to 42-1/4 Wednesday, Kmart (KM), down 1/8 to 10-15/16, Wal-Mart (WMT), unchanged at 37-3/16, and Dayton Hudson (DH), up 5/16 to 61-7/8.
U.S. exchanges will close early at 1 p.m. ET on Friday followed by the bond market at 2 p.m.
The Dow Jones industrial average could start out strong, according to S&P futures trading on the Globex overnight system, which predicted a higher opening on Friday.
Many overseas markets continued to be closed for the holiday term but Tokyo was open for business, dropping 3.25 percent on Friday, but light trading volume may have skewed those results.
In Europe, London and Frankfurt exchanges were closed but in Paris, the Cac-40 index was off 4.63 to 2869.45 in morning trading.
|
|
|
|
|
 |
|
