The KUIK Closing Market Report for Thursday, December 17:
Markets were down.
Index Direction Change Units Index Time Change
Dow Down (253) points 17,496 1:16 PM
S&P500 Down -1.5% percent 2,042 (31.18)
Nasdaq Composite Down -1.4% percent 5,003 (68.58)
30 Year Treasury Down (6) Basis Points 2.94 Annual Yield
Retailers estimate that 3.5% of holiday returns, $9.1 billion worth will be fraudulent, up from 3% last year, according to the latest Return Fraud Survey from the National Retail Federation. The cost will be $2.2 billion, up from $1.9 billion last year. Total returns for the year are expected to reach $260.5 billion, or 8% of total sales. 91.9% will be return of stolen goods, down slightly from last year’s 92.7%.
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/retailers-expect-holiday-return-fraud-to-cost-22-billion-2015-12-17?dist=afterbell
For today’s Closing Market Report click to listen->