Mall Rats Can’t Bring About the Wealth of Nations: Caroline Baum
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Dec. 2 (Bloomberg) -- The spectacle of hordes of shoppersschlepping through the mall at midnight with children in tow,stuffing their carts after stuffing their bellies, was a sightto behold. And apparently one to cheer.
U.S. stocks soared on Monday following reports of a bang-upstart to the holiday shopping season. Black Friday sales rose6.6 percent from last year to a record $11.4 billion while“retail foot traffic” -- now there’s a metric you can take tothe bank -- rose 5.1 percent, according to ShopperTrak, aChicago research firm.