Falling Oil Fuels Consumers to Spend, Stocks Open in Recovery Mode

Major U.S. markets bounced back at Thursday's opening bell. Stocks are trying to recover after Wednesday's massive drop. Investors were greeted with better-than-expected economic data including a positive start to the holiday shopping season. Lower prices at the pump helped fuel consumer spending. Retail sales jumped in November by 0.7%, better than the estimated rise of 0.4%. The Labor Department said fewer people filed for unemployment benefits last week. Weekly jobless claims dropped by 3,000 to 294,000, lower than the expected 295,000. eBay (EBAY) may be waiting until after the holidays to hand out pink slips. The Wall Street Journal is reporting eBay is considering cutting thousands of jobs early next year, ahead of PayPal spin-off.