Thanksgiving Day

In Singapore we don’t officially celebrate Thanksgiving Day but the western expatriates who live here do.  Anyway what’s more important is tomorrow.  Thanksgiving in the US falls on the 4th Thursday of every November and the Friday following every Thanksgiving Day is known as “Black Friday” in the US.  It also marks the start of the Christmas shopping season there.

Black Friday retail sales is used by the analysts and retailers there to gauge the potential consumer spending and festive revenues, and hence the overall economic performance for the 4th quarter and the entire year.  They then make forecasts for next year’s economy, stock market performances etc.

The US equity markets will be closed today for Thanksgiving Day and they will only be opened for half a day tomorrow to ‘kickstart’ Black Friday.  I first observed this trend in the calendar last year when I picked up equities and options trading.  Well, when you develop the habit of watching CNBC during US market hours, you can’t help but get acquainted with Thanksgiving and other US public holidays.

Last year I watched President Bush give a Thanksgiving speech on CNBC.  He even gave a “Presidential Pardon” to a particular turkey to be spared from the dinner table.  Anyway, I won’t be home this evening to catch his speech and the pardoning of another turkey.  (I’ve tasted roast turkey some years back.  It tasted a bit like chicken but a little tougher).