The upcoming week will be filled with consumer banking news including subjects like E*E*Trade, Black Friday, and more European Debt Drama as the first full business week after the Thanksgiving holiday will be one to watch.
First, E*Trade’s stock has reached a doji according to TradersHuddle.com. Minimal variation is being experienced by the stock between the opening and closing price or indecision from buyer or seller on the direction of the stock. Earlier this month, E*Trade did decide to stay an independent entity. This decision may be the most prudent option for the company, but the investor community thought otherwise as the post announcement performance of E*Trade’s stock was dismal. E*Trade’s stock was $10.84 on Nov 8th, and the stock closed at $8.14 on Nov 25th. The company’s story is still evolving as the future of E*Trade will be determined by winning investors confidence in the future of the company.
Second, Black Friday will be a story of importance for the upcoming week. Black Friday was an initial success for retailers, but the cost of the success may cause a backlash for retailers to consider its liability in the chaos experienced in many communities throughout the country. Gunfire, pepper spray, and bad behavior was equally the result of limited supplies and opening at midnight for shoppers to capture bargains instead of truly enjoying the turkey and gravy with family for Thanksgiving. The bad economy may call for retailers to become creative to capture a larger share of the consumer’s wallet, but having midnight hour sales to expose consumers to potential criminal elements does bring liability of responsibility of the retailers as responsible corporate citizens.
Third, the European Debt Drama will capture news this week as The New York Times reports. The Endgame is approaching in this crisis, and American banks have around $767 billion in exposure to Europe. The events in Europe does impact every American including the consumer and banking institutions of DC.
In conclusion, the first full business week after Thanksgiving will be filled with national and international events to impact the consumer and banking institutions of the Greater Washington, DC metropolitan area. For more information or consumer banking questions, please link to donny-wise.com for additional consumer banking news and information.