U.S. stocks started the pre-market session in the green, but then slipped into negative territory when oil began selling off. Initially Saudi Arabian officials suggested they would take efforts to stabilize the oil market, but traders decided that action speaks louder than words and the gains were erased.
The S&P 500 is flat at 2,089, the Dow Jones Industrial average slipped 2 points to 17,821 and the Nasdaq is essentially flat at 5,105.
Asian markets ended the day mostly lower with Japan’s Nikkei closed for Labor Thanksgiving Day. European markets also traded to the downside as Brussels remained on edge as the country is under a high terrorism alert.
Wal-Mart has decided to move “Cyber Monday” to Sunday. The big box discounter is releasing 2000 Cyber Monday deals at 8 p.m. eastern time on Sunday night so that shoppers won’t have to stay up until midnight waiting for the bargains. Cyber Monday began when shoppers would wait until they got to work in order to take advantage of faster Internet speeds, but that isn’t the case anymore. The company also found that there was a significant spike in searches on Sunday night for Cyber Monday deals. Amazon has already been offering special discounts so there doesn’t seem to be any reason for Wal-Mart to wait. Wal-Mart stock is up by 21 cents to $60.26.
Ugg shoes, a division of Deckers Brands is taking its counterfeit battle to the people. The company launched an anticounterfeit campaign on its Facebook and Twitter pages. Videos and photos show shoppers how to distinguish between the real shoes and the fakes. Ugg has removed over 300,000 counterfeit listings on Alibaba’s marketplace Taobao. Between 2007-15, law enforcement has seized over 2.5 million fake Uggs. Decker stock is up 28 cents to $50.25.