BUSINESS

Booming stock market may mean increase in holiday spending

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(WJLA) - Morgan Stanley announced on Monday that the consumer sentiment for holiday spending is at its lowest level since 2008 – thanks in part to Washington gridlock and the government shutdown.

With Christmas fast approaching, Santa is now busy every day at Tysons Corner Center mall. And while making his list and checking it twice, he has time to shop the mall for what he wants this Christmas.

“You know they've got a new car out there -- that Tesla -- that's a nice one!" he says.

But while Santa is thinking big this Christmas, what about consumers? One restaurant worker says she’s seen a noticeable drop-off in customer spending since the government shutdown.

Still, one big gift this Christmas is the booming stock market -- which means more to spend on goodies under the tree.

Experts say this Christmas, it’s up to retailers to convince consumers to spend this holiday. So here at Tysons, from new stores to tried and true stores and from tech to more classic Christmas toys, there are sales, special deals, and lots of holiday spirit to entice Washington shoppers.

Vivian Palivoda from King George insists she will be spending just as much or more this year; and with his granddaughter’s American Girl doll Christmas present bought just today, Tony Kee of Fort Washington says the stock market has his holiday spirits soaring.

"The market's doing real well," he says.

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