Wall Street gears up for jolly Black Friday

A trader works on the floor of the New York Stock Exchange.
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Wall Street is feeling the magic of the holiday shopping season.

As consumer sentiment wanes and concern rises over end-of-the-year growth, most finance industry pros believe Black Friday will kick off a solid sales run. Both sales for the day and the holiday season are likely to grow at least 2 percent to 4 percent, according to a survey this week from New York-based brokerage ConvergEx.

Much of the benefit will come to online outfits, according to responses from 276 professionals, 60 percent of whom see e-commerce as the fastest-growing retail sector. Warehouses were second with 13 percent and department stores third at 11 percent.

Hot products are likely to be electronics (38 percent), followed by computers and tablets (22 percent) and phones (16 percent).

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