A number of people have speculated in recent years whether the euro area might eventually break up into two under the weight of its own contradictions, writes David Marsh. See full story.
Greece, fiscal cliff weigh on U.S. stock futures
U.S. stock futures fell Monday as U.S. lawmakers readied to resume efforts at reaching a deal to avert the so-called fiscal cliff and euro-zone finance ministers considered Greek aid. See full story.
Europe stocks drop as Eurogroup discusses Greece
European stock markets move lower following a bullish week for the bourses, as euro-zone finance ministers once more meet to discuss Greece’s debt sustainability and what would be its latest bailout tranche. See full story.
Japan stocks rally again, as China shares drop
Japanese stocks end at a seven-month high, further stretching a recent rally that has been inspired by a weakened yen, while Chinese and South Korean shares slip on caution before a Eurogroup meeting on financial aid for Greece. See full story.
MARKETWATCH COMMENTARY
The fiscal cliff is a misleading metaphor, writes Rex Nutting. The tax and spending laws will change on that day, it’s true, but the impact will be spread out over many, many months. We’re already feeling the pain. See full story.
MARKETWATCH PERSONAL FINANCE
Stores are anticipating a huge turnout — read: crowds — this year. According to a survey conducted by management consulting firm Accenture, 53% of consumers say they plan to shop on Black Friday, up from 44% last year. That would reverse three years of declining consumer interest in the day, based on the company’s previous surveys.
The spike comes as retailers have been ramping up their Black Friday marketing efforts and rolling out new strategies to lure consumers, says Jeff Green, an independent retail analyst in Phoenix. To lure consumers, retailers have been rolling out new strategies: Some stores are using social media to give shoppers sneak previews of the deals they’ll offer on Nov. 23. Macy’s, for example, has been posting announcements on Facebook all month about its Black Friday deals: half-carat diamond earrings for less than $200, for example, and 40% off coffeemakers and espresso machines. And to make shopping in the store easier, the retailer just enhanced its smartphone app, enabling customers to find Black Friday deals at specific store locations — down to the department and floor.
To pull in more early birds, some retailers are touting free gift cards with purchases. Consumers who spend $50 or more on certain products at Target between 4 a.m. and noon, for instance, will get a $10 store gift card for future purchases. Wal-Mart is also offering $100 store gift cards to customers who buy select smartphones beginning at 5 a.m. (while supplies last, that is).
Of course, these sneak previews of sales and freebies can be a plus for consumers. By knowing Black Friday prices in advance, shoppers can decide whether it’s worth holding off until the big day.
