Stocks Start Thanksgiving Week Higher, Holiday Sales Predictions

U.S. markets started this shortened trading week higher.
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U.S. markets started this shortened trading week higher. This week will kick off the holiday shopping season. The National Retail Federation is predicting retail sales will be up 4.1% this year. PNC Asset Management (PNC) is forecasting holiday sales could be up as high as 4.5%. In his weekly note, Chief Investment Strategist Bill Stone said lower gas prices 'will put an estimated $39 billion back in shoppers' pockets this year.' Tesla's (TSLA) CEO Elon Musk told a German publication, his company is in talks with BMW about working together on a possible collaboration involving batteries and other parts. Shares of Intel (INTC) are rising in early trading after Barron's said the stock could jump more than 30% over the next two years.