Business fun facts!

The first credit card was offered by the Diner’s Club in 1950.

American Express started as a shipping company in 1850.

Among the US states, Massachusetts has the highest percentage (37%) of people who have completed a Bachelor’s degree in 2006.

Market slide continues!

Stock markets continued their slide over concerns of slowing economy and lower consumer spending. Investors remain concerned about the ongoing weakness in the housing market, additional banking sector losses, and rising oil prices. The S&P500 lost 16 points, the DOW lost 195 points and the NASDAQ lost 26 points for the week ending November 23rd, 2007.

The US stock markets were closed for Thanksgiving on November 22 and closed three hours early on November 23.

Strong start for the holiday retail sales.

Most US retailers had a strong start for this holiday shopping season. The day after Thanksgiving is the biggest retail sales day for the year. Experts believe that strong sales on the day after Thanksgiving can be a good sign for retailers Holiday Season sales. This day is also called “Black Friday” because the surge of shoppers makes stores profitable and gives a good start to the holiday shopping.

It is estimated that on Friday, November 23, total retail sales exceeded $10.3 billion compared to $9.5 billion on the same day last year. Most experts were expecting sales to be below $10 billion. The key retail stores like J.C. Penny, Wal-Mart, Kohl’s, and Macy’s are expected to report strong sales for “Black Friday” and for the weekend.

So far stores have been struggling with sales because most shoppers are spending more on higher gas and food prices instead of shopping. Growing housing market problem, credit crisis, and uncertain economic conditions are expected to impact the shoppers buying habits this year.

This holiday season, Europeans, Japanese, and Canadians are taking advantage of the weak dollar by shopping in the US stores. Most of these tourists are flocking to the major mall all across the US for bargains as the dollar hit a new low against the euro on Friday. For example, a $250 Wii will cost 25 Euro, 2,000 Yen, or 38 Canadian dollars less today compared to a year ago.

We will watch and report how the retails sales do for the rest of the holiday season.

Learn more about...

What is Credit History? Why is it important to have a good credit history? Volume 12.

What is Economy, Business, Workers, Goods, Services, Stock, DOW, S&P500, and NASDAQ in Volume 16.

Does it pay to study hard? Volume 17.

What is Currency and Foreign Currency Exchange rate? Volume 14. What is stronger or weaker currency? Volume 20. What does the dollar slide mean? Volume 32.

How does money grow in a bank? Volume 21.

What is Fed Funds rate and Discount rate? Volume 22

What does the interest rate cut mean for you? Volume 23.

How to read stock information? Volume 25.

What is "Black Monday"...Crash of 87"? Volume 31.

Who are CEO, CFO, Shareholders, and the Board of Directors? What is SOX? Volume 33

Nov 19-23, 2007

Weekly Stock Market

Bear Market-Stocks down!

Index

Change

Last

DOW

Down 195

12,981

S&P500

Down 16

1,441

NASDAQ

Down 26

2,597

**Foreign Exchange Rate**

**$1 is equal to**
Currency	Change	Last
Euro (€)	-0.01	0.67
Yen (¥)	-2.92	108.13
Pound (£)	-0.00	0.49
Yuan ()	-0.02	7.40
Rupee (Rs.)	+0.38	39.62
Canadian (C$)	+0.01	0.99

**Your Favorite Stocks**
Company	Bought one stock in Jan-07	This week stock is?	Your gain or loss?
	$34.20	$31.84	-$2.36
	$49.89	$52.96	+$3.07
	$43.87	$57.72	+$13.85

We use multiple information resources, such as, websites, companies, stock exchanges, newspapers, text books, and others.