Retail expert says in-person shopping is on this 12 months
Telsey Advisory Group CEO Dana Telsey expects more in-store shoppers and a movement away from spending on home improvement to clothing and wonder on Black Friday.
“I believe this holiday season’s gonna be about in-person shopping,” Telsey said on “Squawk Box” Friday morning. “They’re opening later, they’re opening at 6 a.m., we’ve more promotions this 12 months than we had last 12 months. It is a world of difference, and I’m seeking to see what the promotional triggers are as we go forward.”
But not all retailers will fare the identical. CNBC Pro subscribers can read her list of winners and losers here.
— Alex Harring
Stocks open little modified ahead of short trading day
Stocks opened little modified on Friday ahead of the short trading day as Wall Street looks to shut out a winning holiday week.
The Dow Jones Industrial Average rose 19 points, or 0.09%. The S&P 500 lost 0.03% and the Nasdaq Composite slipped 0.48%, weighed down by shares of Activision Blizzard, which fell nearly 4% on news that the FTC could block Microsoft from taking up the gaming company.
—Carmen Reinicke
Stock futures flat ahead of market open
Stock market futures moved back to the flatline ahead of Friday’s opening bell.
Futures on the Dow Jones Industrial Average rose 18 points, or 0.05%. S&P 500 futures lost 0.07% and Nasdaq 100 futures slipped 0.40%, weighed down by shares of Activision Blizzard, which fell in premarket trading on news that the FTC could block Microsoft from taking up the gaming company.
—Carmen Reinicke
Dow stretches well above key moving average
The Dow’s regular comeback is reaching a key technical level, in accordance with Bespoke Investment Group.
The Dow is 9.1% above its 50-day moving average, Bespoke said in a tweet on Friday. That’s the very best since June 2020 and only the eight time since 1990 that it has been not less than 9% above the moving average.
The 50-day moving average is one benchmark that traders use to predict short-term market moves. When a mean is abnormally above its moving average, it might be an indication that it’s overbought.
The Dow is up 4.5% in November.
— Jesse Pound
Tesla, Manchester United: Stocks making the largest premarket moves
Here’s a number of the stocks making the largest premarket moves Friday during a shortened trading day.
Tesla (TSLA) – Tesla ticked up 2% in premarket trading after saying its Full Self Driving Beta software is now available to everyone in North America. The corporate continues to be awaiting regulatory approval for cars to be driven without human control.
Manchester United (MANU) – Shares of the soccer team jumped one other 10.8% after posting two double-digit rallies on Tuesday and Wednesday following reports earlier within the week that it was considering strategic options, including a possible sale.
Read more here.
—Carmen Reinicke, Peter Schacknow
Amazon employees plan Black Friday protests
Amazon employees within the U.S. and roughly 30 countries all over the world are planning to protest on Black Friday to call for higher pay from the net retailer.
The campaign, organized because the Make Amazon Pay initiative, is planning to focus on the retail giant during certainly one of the busiest shopping periods of the 12 months.
Shares of Amazon were little modified in Friday premarket trading.
— Sarah Min
Activision Blizzard falls on news that FTC could block Microsoft takeover
Activision Blizzard shares shed 3.7% before the bell Friday on news that Microsoft’s roughly $69 billion takeover of the corporate faces potential antitrust scrutiny.
Politico reported earlier this week that the Federal Trade Commission will likely file a lawsuit blocking the acquisition, citing people aware of the matter.
— Samantha Subin
European markets barely lower to shut out winning week on dovish Fed bets
European markets were muted on Friday to shut out an otherwise upbeat week, because the U.S. Federal Reserve’s latest meeting minutes added to expectations that monetary policy tightening may decelerate.
The pan-European Stoxx 600 slipped 0.2% below the flatline in early trade, with basic resources and retail shedding 0.7% as most sectors and major bourses traded in mildly negative territory.
– Elliot Smith
CNBC Pro: UBS says recession in 2023 can be an inch deep but a mile wide — and that’s not priced into stocks
Global economic conditions will shift next 12 months and that is going to flip which markets and sectors underperform, in accordance with the chief strategist of UBS Investment Bank.
“It’s an inch deep however it’s a mile wide,” he said of the expected recession. “Global growth is at 2% and that isn’t priced into stocks,” Bhanu Baweja told CNBC’s “Squawk Box Europe” Wednesday.
He also named which sectors he expects to outperform next 12 months.
CNBC Pro subscribers can read more here.
— Jenni Reid
CNBC Pro: Outperforming asset manager picks the stocks set to win as margins get squeezed
Patrick Armstrong, chief investment officer at Plurimi Wealth, believes margin squeeze is the ‘biggest risk’ for equities. But he thinks some stocks could beat the trend.
“Own sectors with defendable margins or which might be creating margin squeeze elsewhere,” he added, naming the sectors and stocks he likes best.
Pro subscribers can read more here.
— Zavier Ong