More Financial Reports to Be Released, Obama to Announce National Security Team

Following a brief Thanksgiving respite, a number of reports ranging from November’s jobless claims, retailer reports on November same-store sales and the Fed’s monthly beige book will all be released this week providing data for investors on the continuing crisis state of the economy. A more complete sales picture of how the Thanksgiving weekend fared won’t be known until Thursday, when the nation’s retailers report November same-store sales, considered a key indicator of retailer’s health, the Associated Press reported. The Labor Department will release its report on non-farm payrolls on Friday, the government will report weekly jobless claims on Thursday and today a report from the Institute for Supply Management on manufacturing in November will be released. The group will also release its index of non-manufacturing activity on Wednesday and the Fed will release its monthly beige book, an assessment of business conditions in different regions of the country this week, according to the Associated Press. President-elect Barack Obama will announce his national security team at an event later this morning, too, according to CNN. Business Week reported that more than 172 million shoppers around the country visited stores and retail Web sites during the post-Thanksgiving weekend, up from 147 million last year, according to the National Retail Federation. The news didn’t seem to do much for the stock market start, though. CNNMoney.com reported that the Dow Jones industrial average, Standard & Poor’s 500 and Nasdaq 100 futures were all lower first thing this morning. The big three U.S. automakers will report November sales results Tuesday as they deliver plans to Congress showing how they would use federal loans to return to profitability, Bloomberg reported. New vehicles probably sold at a seasonally adjusted annual rate of 11 million in November, down 32 percent from a year earlier, based on a Bloomberg News survey of 26 analysts and economists. In October the annual selling rate was 10.6 million, according to Bloomberg.