Futures for U.S. stock indexes are lower on Monday following some slightly disappointing holiday shopping news over the week-end from retailers along with news out of Asia that Chinese factory growth hit an eight month low.
According to the National Retail Federation, a Thanksgiving week-end Spending Survey conducted by Prosper Insights & Analytics showed that 55.1 percent of holiday shoppers were or will be in stores and online over Thanksgiving weekend, down from 58.7 percent last year.
The average shopper spent $380 over Thanksgiving Weekend with more than 67 million Americans going to department stores.
The survey also showed that 126.9 million (52.3 percent) of shoppers plan to shop online on Cyber Monday, down slightly from the 131.6 million last year.
Despite the weaker Thanksgiving spending numbers, National Retail Federation CEO Matthew Shay still remains optimistic about U.S. holiday shopping.
“We are encouraged by what we’ve seen thus far with eager Thanksgiving Day and early Black Friday shoppers,” said NRF president and CEO Matthew Shay.
Shopper Trak reported on Saturday that Thanksgiving and Black Friday’s combined sales are projected to be approximately 12.29 billion, a .5 percent decrease from 12.35 billion last year.
Separately, the Russian ruble is sharply lower on Monday after oil hits a five year low. Brent crude fell to below $ 68 per barrel.