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Survey: Holiday spending looks strong
Philadelphia – Holiday spending looks strong this year, with 85% of U.S. consumers planning to maintain or increase their holiday spending levels from last year. According to a new survey of 2,000 respondents from Pennsylvania Real Estate Investment Trust (PREIT) and Harris Interactive, of those who plan to spend more, 15% plan to increase spending on electronics, 14% plan to purchase more gift cards, 13% will spend more on apparel and 10% will spend more on home goods.
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S&P 500 drops J.C. Penney
Plano, Texas – J.C. Penney will no longer be included on the Standard & Poor’s 500 Index.
Dow Jones Indices, which manages the S&P 500 as well as many other financial indices, said on Nov. 22 that Allegion, an Ireland-based provider of mechanical and electronic security products, will replace Penney on the S&P 500. Penney will join the S&P MidCap 400. The change will become effective after the stock market closes on Nov. 29.