Stocks Start Thanksgiving Week Higher, Holiday Sales Predictions

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.