Forget Black Friday and Cyber Monday 2014 retail sales figures- Enjoy Thanksgiving season
Investors capitalizing on making the most from Black Friday and Cyber Monday have been advised to forget it and just focus on the festivities for once. And the reason for this is simple: retail sales figures for the two days have not been too encouraging judging from estimates over the past few years.
More so, the retail sales figures for the Black Friday and Cyber Monday tell us nothing about how the economy is doing in general.
According to Mark Hulbert, a financial analyst with Market Watch, “To appreciate the futility of their obsession, consider what happened last year. Initial retail sales figures from Black Friday and Cyber Monday were disappointing, and the stock market dutifully fell. And, still, the Dow Jones Industrial Average DJIA, +0.07% rose 3.5% till the end of the year. Or take what happened in 2008 in the depths of the financial crisis. Initial Black Friday and Cyber Monday reports that year were particularly disappointing, and the Dow plunged by 6.6% over those two days. Nevertheless, from then through the end of the year, the Dow rose 7.7%.”
Although it makes no sense to think that retail sales for this Friday and Monday will be worse off than expected, it still makes perfect sense to know that the sales figures that will be recorded over the next few days may not impact how the economy does or serve as yardsticks for investors to bank upon.
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