Stocks rose modestly as sluggish retail sales did not bother the markets. Dow is up 46, advancers are 2-1 over decliners & NAZ is up 17. There is hope that another interest rate cut & a government plan to keep mortgage rates from spiking will help companies hurt by the housing crisis. They better get going soon with help for mortgages as foreclosures hit a record level of 0.78% in the third quarter.
The housing slump's impact on consumers adds to worries that the holiday shopping season is getting off to a shaky start. Target (TGT) is down 5 after announcing that Dec sales will come in below forecast. Walmart (WMT) is projecting same store sales up 1-3%. This sounds like uh-oh to me.
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