87°
Baton Rouge, Louisiana
3 Day Outlook
Thu
93°
73°
20%
Fri
94°
73°
20%
Sat
97°
74°
60%

Latest Weather Blog

Follow our weather team on social media

Stocks open lower on new fiscal cliff warning

2 years ago November 26, 2012 Nov 26, 2012 Monday, November 26 2012 Monday, November 26, 2012 9:29:52 AM CST in News
Source: Associated Press

NEW YORK - Stocks are opening lower after a warning from White House economists dampened what had been a huge weekend for retailers.

Shoppers flooded stores in record numbers over the weekend, according to the National Retail Federation. The organization said 247 million shoppers visited stores and shopping websites during the Thanksgiving holiday, up 9.2 percent from last year.

On Monday, however, the National Economic Council and the Council of Economic Advisers said that a sudden increase in taxes for middle-income taxpayers could reduce consumer spending next year by nearly $200 billion.

More News

comments powered by Disqus

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
Radar
7 Days