Wall St Unchanged; Disney, retailers are down

The Dow Jones industrial average are down 14.9 points (0.08%), to 17,798.49, the S&P 500 gained 1.24 points, or 0.06%, to 2,090.11 and the Nasdaq Composite added 11.38 points, or 0.22%, to 5,127.53.

United States Stock indexes closed and there are minimal changes in light trading on Friday. Consumer stocks fell as investors worried about early reports on the holiday shopping season, and Disney’s subscriber losses weighed on the market.

US stock markets closed 3 hours earlier after the Thanksgiving holiday on Thursday. Most traders are in day off for the holidays.

Trading volume was a little light with 2.79 billion shares changing hands on US exchanges, compared with the 7 billion average for the previous seven sessions.

Because of the drop of Walt Disney shares it cost close to 24 points off the Dow. Walt Disney shares fell $3.54, or 3%, to $115.13 after it reported this week that subscribers at ESPN, of which it is a majority owner, fell by 3 million in the fiscal year ended October 3.

The S&P’s energy index lost 0.7%, more than any other sector, after oil producers and other energy companies fell along with the price of crude oil. Chevron lost 50 cents, or 0.6%, to end at $90.37.

U.S. crude-oil futures slipped 3.1% to settle at $41.71 a barrel.

Shares of several retailers fell as investors braced for data on the key holiday-shopping period. Wal-Mart Stores fell 35 cents, or 0.6%, to 59.89. Urban Outfitters fell 66 cents, or 2.7%, to 23.65, while Gap lost 70 cents, or 2.5%, to 27.36.

J.P. Morgan Chase rose 31 cents, or 0.5%, to 67.17, while Goldman Sachs Group gained 1.32, or 0.7%, to 190.47.

Gold fell 1.3% to $1,056.20 a troy ounce.

China Raided Underground Banking Ring Worth $64 billion

Chinese police has raided the country's largest underground banking ring that involves transactions totaling $64 billion. Those 100 suspects that were arrested are from 8 gangs. Chinese officials believes that the gangs were thought to be linked to a ringleader who allegedly operated multiple shell companies in Hong Kong engaged in money laundering and foreign exchange transactions.

China has strict capital controls, citizens can only move around $50,000 out of the country each year. This restrictions has resulted for gangs to launder money through art pieces or through casinos in southern China which helps citizens to transfer funds in other countries. While some of that money comes from honest earnings, a portion is believed to have been obtained via corruption or fraud.

GoDaddy Up by 15%; Raises 2015 Revenue Forecast

GoDaddy a Web domain marketplace has gain 15%. The launch their public offering last April and in their Initial public offering (IPO) they were able to raise $460 million. Their company is valued at $5.48 billion.

Godaddy (NASDAQ:GDDY) had its price objective boosted by investment analysts at JMP Securities to $38.00 in a research note that was released last Friday on StockTargetPrices.com.

GDDY's 50-day moving average price is $26.36 and its 200-day moving average price is $26.78. The 12-month mean target is $33.45, which means upside potential of 7.97% over the current price. Monness Crespi & Hardt initiated the shares of GDDY in a report on August 12 with "Buy" rating. Godaddy presently has an average rating of "Buy" and an average price target of $34.06. Deutsche Bank upped their price target on Godaddy from $32.00 to $33.00 and gave the stock a buy rating in a report on Friday, August 7th. Godaddy (NASDAQ:GDDY) last released its quarterly earnings data on Wednesday, November 4th. The street expected the company to report a loss of $.09 per share on revenue of $408 million, while the company itself expected third quarter revenue to be between $405-410 million.