US Stock Market Sees One of It's Best Years - Holiday Season Not Much of a Banner

This year is shaping up to be one of the best years for the U.S. Stock markets. The meteoric rise has due in part to a rebounding economy, a robust housing market and on the heels of the massive stimulus program enacted by the Federal Reserve. The S&P 500 hit yet another record close of 1,842.02 yesterday and is considered a barometer for the U.S. Stock markets.

The 2013 holiday shopping season may not turn out to be a banner year for retailers. Sales of holiday items are estimated to be up 2.3% from 2012, but the gains were achieved by deep discounts. This year saw fewer shopping days with Thanksgiving coming later than usual, along with a pullback in spending by consumers.

In the labor markets, 1.3 million Americans are set to be cutoff from unemployment benefits on Saturday after Congress failed to extend the benefits before leaving for vacation. Another 1.9 million will also lose their checks in mid-2014. Views have been from both sides of the table...the recession has been over for almost four years with others saying the job market is still tight with three applicants for one job.

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