Poor “Black” Friday and Cyber Monday Retail Showings Causing Concern Among Investors

Reuters is reporting the overall traffic to the Nielsen/Net Ratings Holiday eShopping Index, which tracks more than 120 online retailers, rose 12 percent on the Friday after Thankgiving over the same day last year, according to the online audience measurement firm.That is significantly below the 29 percent growth in overall traffic to the index from 2004 to 2005 and more in line with 11 percent growth seen from 2003 to 2004.

The published on Saturday data showed an increase from the 2005 season, but overall Internet traffic growth was well below last year’s even as bargain hunters tracked down sought-after toys and electronics on the Web before “Cyber Monday.”

Walmart Woes & Dollar Decline Drops Dow 158 pts.

Wall Street had its worst day in more than four months today as the dollar weakened and concerns about the strength of the retail industry arose following a rare sales decline at Wal-Mart. The Dow Jones industrials fell 158 points.Us investors were uneasy after the dollar fell for the fifth day in a row and after Wal-Mart, the world’s largest retailer, reported a 0.1% drop in same-store sales, those from stores open at least a year.

As the dollar’s slide continued, it hit a 20-month low against the euro though it did for a time move higher against the Japanese yen. The dollar’s fall raised concerns that foreign investors were sensing weakness in the US economy and would pull some of their investments from US markets.

Gold At $ 647.10 - It’s Highest Since September 6, 2006

Quotes on gold in New York Monday shot up to their highest levels in 11 weeks, driven by European investors taking advantage of a weaker US dollar to the euro.In Monday’s session, the gold contract for delivery in February advanced 11.70 dollars, or 1.8 percent, to close at 647.10 dollars per ounce, after setting an intraday high at 648.20 dollars, a reading not seen since September 6.Gold, sold in dollars, generally moves in the opposite direction of the US dollar, which fell Monday to a low against the euro not observed since March 2005.The value of the golden metal has gained 25 percent so far this year, while the greenback has dropped 9.7 percent versus the euro. (Gold Information provided by Finsat/GCE)