Target to close 12 stores

The markets recovered during the midday to trade modestly higher with the Dow rising 12 points to 23,569. Nasdaq gained 13 points to 6,781.


Target announced that it will close twelve stores after the holiday shopping season as pricing pressure continued to mount from online merchants. The underperforming stores were identified after a rigorous evaluation process. A list of the locations slated for closure is available online.


Best Buy revealed its Black Friday deals this morning. The consumer electronics retailer will open at 5pm on Thanksgiving and offer hundreds of deals including a 50-inch Sharp 4K Smart TV for $179.99, Amazon Fire 7 Tablet for $29.99, Google Home Mini for $29.99, Microsoft Xbox One S 500GB console for $189.99 and the Sony PlayStation 4 1 TB console for $199.99. Many deals are available now online until November 11 then nearly all Black Friday deals will be available online beginning on Thanksgiving morning.


Sears reached an agreement with the Pension Benefit Guaranty Corp. to sell up to 140 properties in order to fund its pension plan. The sales are expected to generate approximately $407 million that will support a retirement plan for nearly 100,000 people. Sears has not identified the locations that will be sold.


In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 5 the NYSE and by 5 to 4 on Nasdaq. The broader S&P 500 added 2 points to 2,593. Bitcoin leaped $279 to $7,359.


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