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The day before Thanksgiving is always an unusual one. We had a slew of economic data today and that all propelled shares higher than what the pre-market indications were.The largest figure today was that jobless claims finally broke under the 500K per week mark... Initial Jobless Claims came in at 466,000, under the 495,000 expected by Bloomberg. The continuing jobless claims also fell by 190,000 to 5,423,000.

The Department of Energy's weekly oil inventories data did show gains after recent drops. This was in crude, gasoline, and refining capacity, with distillates as the only loser. The data on Personal Income & Spending for September were +0.2% on income and +0.7% on spending, versus Dow Jones estimates of +0.1% and +0.6%, respectively.

Here were today's unofficial closing bell levels:

Dow 10,464.40 +30.69 (0.29%)
S&P 500 1,110.63 +4.98 (0.45%)
Nasdaq 2,176.05 +6.87 (0.32%)

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Retailers expect a strong turnout on Black Friday this year, but they are careful to explain that it doesn't guarantee a winning holiday shopping season.

Consumers are being lured by good deals and special promotions, and Black Friday specials have been leaked earlier than usual this year in the hopes of generating some buzz. The retail sector needs it. Last year's holiday season was the worst in decades, thanks to the financial crisis. This year, the survivors will benefit from fewer competitors chasing the same consumer dollars.

Here are some highlights from this past week's earnings coverage on BloggingStocks:

• ADC Telecommunications Inc. (ADCT) posted a surprise net loss for Q4 and predicted a loss in Q1.
• BJ's Wholesale Club Inc. (BJ) shares fell after Q3 earnings met expectations and offered guidance for FY.
• Dell Inc. (DELL) posted lower-than-expected Q3 earnings, prompting a sell-off of shares.
• Foot Locker Inc. (FL) said Q3 earnings slumped more than analysts' forecast, sending shares lower.
• Gap Inc. (GPS) reported growth of EPS and revenue in Q3 and announced a share buyback program.

Sears Holdings (SHLD) was selling off close to 5% at the time of this writing in reaction to the company's Q3 report. On an adjusted basis, the retailer lost 81 cents per share. That was better than the 90 cents lost in the comparable period, and it did beat the forecast as highlighted in our earnings preview.

I'm sort of shocked that the market didn't bid Sears higher. Going into the earnings news, the stock was hanging out near a 52-week high. Let's see, Wall Street sends the stock to the high point of the range, the release comes out, the loss isn't as bad as analysts expected it to be, and everyone sells. The market sure is strange sometimes, isn't it?

The price at the cash register ticked higher in October, though it was driven by the cost at the pump and on the lot.

Energy prices and new car sales (the highest in 28 years) pushed consumer prices upward in October, they're still cheaper than they were a year earlier. The Labor Department reports that consumer prices edged up 0.3% last month, a tad higher than the 0.2% anticipated. Take food and energy out of the equation, and inflation rose 0.2%, again ahead of the 0.1% that analysts expected.

Analyst upgrades:

• RBC Capital upgraded Fidelity National (FIS) to outperform from sector perform. The firm upgraded the stock due to valuation, and its belief that the company will clear up issues related to its merger on its Analyst Day, scheduled for Dec. 7. The firm set a $28 target on the stock.
• Citigroup upgraded Smith International (SII) to buy from hold, citing the sell-off in shares following its 28M share equity offering. Note that Smith International priced 28M shares Tuesday at $26.50.
• Wells Fargo upgraded DynCorp (DCP) to outperform from market perform. The firm upgraded the stock on valuation, and because it believes that the impact on DynCorp of a possible indictment of PWC will be minimal, if any.
• Rockwell (ROK) was upgraded to overweight from neutral at HSBC.
• Omega Healthcare (OHI) was upgraded to outperform from market perform at JMP Securities.
• Analog Devices (ADI) was upgraded to conviction buy from buy at Goldman.

U.S. mega-retailer Target (TGT) stepped into the earnings spotlight Tuesday morning, and the company had a nice surprise for investors.

The firm reported third-quarter earnings of 58 cents per share, topping both the consensus estimate (50 cents per share) and last year's results (49 cents per share). Quarterly sales totaled $14.8 billion, matching the consensus estimate. For those who do not remember, analysts upped their estimates for Target after the company announced that it would beat its estimate of 43 cents per share.

Imagine taking the personal connections and interactions that occur every day on the likes of Facebook and Twitter... and bringing them to bear on an education. To a large extent, this hasn't been done yet, but the potential is profound. In a new report by the Center for Community Survey for Student Engagement, two-year programs aren't taking advantage of the tools at their disposal -- plenty of growth is still possible. Kay McClenney, director of the CCSSE, says, "Colleges are not taking advantage of that particular set of tools for making connections with students to the extent that they could."

What's on your Christmas wish list? If the National Retail Federation is right, gift cards are probably holding a respectable place toward the top of the list. These little pieces of plastic are requested most this time of year, and they have the added perk of allowing people to get what they want instead of money wasted on presents that sucks. This trend may give retailers a hand this year, as they'll be able to keep their inventories down.

If shoppers are slow with the cash, retailers won't have to resort to just slashing prices as they had to last year to move product out the door. When the stuff on the shelves is cheap, gift cards aren't as attractive because there's a deal to be had! This year, if inventories are kept down, gift cards are more likely to move.

On the heels of last week's better-than-expected earnings results from retailers Abercrombie & Fitch Co. (ANF), Kohl's Corp. (KSS), Macy's Inc. (M), Urban Outfitters Inc. (URBN) and Wal-Mart Stores Inc. (WMT) -- as well as disappointing numbers from Blockbuster Inc. (BBI) and JCPenney Co. Inc. (JCP) -- the coming week will bring results from more shopping- and strip-mall favorites.

TJX Companies Inc. (TJX), which operates T.J. Maxx and Marshalls stores in the U.S., settled a class action, announced share buybacks and raised its guidance in the third quarter. For the three months that ended in October, analysts surveyed by Thomson Reuters expect TJX to report earnings of $0.80 per share, up from $0.57 in the same period of last year. Revenue is expected to total $5.3 billion, or 10.2% higher than a year ago. So far, the full-year forecast is for a profit of $2.59 per share (+22.3%) on $20.0 billion (+5.5%) in sales.

Black Friday, as the day after Thanksgiving has come to be known, is the day when most retailers get themselves back into the black. It is also a bargain-hunter's delight. In the age of Internet, several websites emerged dedicated to helping shoppers decide in front of which store to pitch their tents. One of those sites, GottADeal.com, has reportedly landed Target's (TGT) Black Friday ad. Target, it appears, is taking a rather aggressive approach to the upcoming Holiday shopping season.

According to the website, the retailer will offer a 32-inch Westinghouse LCD HDTV for $246, which GottADeal.com's founder Brad Olson calls the "lowest price that we've ever seen for that model." The ad also touts $3 toasters and coffeemakers, and 50% discount on kids' clothes and toys.

Wal-Mart (WMT), which competes with chains such as Sears Holdings(SHLD), Costco (COST), and Target (TGT), reported results for the third quarter this morning. According to our Before the Bell piece, the famous -- and oftentimes controversial -- retailer beat expectations by a few pennies, earnings 84 cents per share from continuing operations. This was 9% better than the per-share profit earned in the comparable period.

Net sales went up only 1%. They were inhibited by the currency environment. But total sales aren't as relevant as same-store sales when it comes to this sector. If I were a shareholder of Wal-Mart, I would be very disappointed by the comps number, since it is the older locations which indicate how well a retailer is truly doing.

Macy's (M) reported third-quarter numbers on Wednesday, and although the bottom line beat estimates, shares of the retailer plunged over 8% on high volume. And I don't blame the market whatsoever for deciding to sell the company down.

Macy's said it lost, on an adjusted basis, 3 cents per share. The call was for a loss of 7 cents per share, according to Earnings.com. Okay, I guess we can say losing less money than expected is a good thing. However, looking at the sales numbers really makes me pause. Total sales declined 3.9%, and same-store sales contracted 3.6%.

Santa hasn't even been tugged down Central Park West yet, and Wal-Mart (WMT) is already slashing its prices. The market among major retailers is intensifying, with many offering products as loss leaders in order to entice customers into the store (physical or otherwise) and boost their basket sizes. Along with Target (TGT) and Amazon (AMZN), Walmart is slashing DVD prices, the same tactic it's using with books.

Retailers are rushing to undercut each other this year, which is causing prices to spiral down quickly. When Walmart announced reduced prices on several titles to $10, Amazon followed at $9.99, with Walmart stepping back in at $9.98.

There's a chill in the air and a slight up-tick in confidence. Holiday discounts are coming a bit earlier, too. For retailers, this has been a great combination, leading to the second consecutive month in which retail sales increased.

This follows more than a year of drops. Consumers aren't going crazy, but they are loosening their wallets a little bit. Consumer spending accounts for 70% of the U.S. economy, and the coming holiday season is where the action is -- for the retail sector and, consequently, for everyone else.