{"id":36883,"date":"2023-11-24T11:13:29","date_gmt":"2023-11-24T11:13:29","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/us-stock-futures-edge-higher-black-friday-sales-in-focus\/"},"modified":"2023-11-24T11:13:29","modified_gmt":"2023-11-24T11:13:29","slug":"us-stock-futures-edge-higher-black-friday-sales-in-focus","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=36883","title":{"rendered":"US stock futures edge higher; Black Friday sales in focus"},"content":{"rendered":"
\n
\n

\u00a9 Reuters <\/span>
\n<\/i>\n<\/div>\n

Investing.com — U.S. stock futures mostly inched higher Friday, continuing November\u2019s rally at the start of a shortened trading day.<\/p>\n

By 06:00 ET (11:00 GMT), the contract was up 90 points, or 0.3%, traded 6 points, or 0.1%, higher and traded largely unchanged.<\/p>\n

The main indices on Wall Street closed higher on Wednesday, before the Thanksgiving holiday, with the blue chip gaining almost 200 points, or 0.5%. The broad-based rose 0.4% and the tech-heavy gained 0.5%.<\/p>\n

These major averages are all on pace for hefty monthly gains, as economic data has tended to fuel optimism that the Federal Reserve’s campaign of interest rate hikes may have peaked.<\/p>\n

The Nasdaq has rallied 11% so far in November. The DJIA has advanced nearly 7%, and the S&P 500 is up more than 8%.<\/p>\n

The news that Israel and Hamas are set to start a four-day truce today, with the release of a first group of 13 Israeli women and child hostages expected later in the day, has also helped sentiment.<\/p>\n

PMIs headline the data slate<\/strong><\/h2>\n

There\u2019s little on the economic data slate Friday, although the November and purchasing managers’ indices from financial information group S&P Global will attract some attention.<\/p>\n

These indices are often seen as proxies for economic activity in the world’s largest economy, with the manufacturing PMI expected to have dipped to 49.8, down from 50.0 in October, the mark that separates contraction from expansion. The services PMI is seen falling to 50.4, down from 50.6 the prior month.<\/p>\n

The equivalent data from the eurozone, released earlier Friday, suggested the bloc’s economy will contract again this quarter as consumers continue to rein in spending, likely resulting in a mild recession in one the U.S.\u2019s major trading partners as the year ends.<\/p>\n

Black Friday launches sales spree<\/strong><\/h2>\n

The retail sector will be in the spotlight during the session, as today is Black Friday, the annual sales spree that typically kicks the crucial holiday shopping season into full gear.\u00a0<\/p>\n

A record 130.7 million people are expected to shop in-store and online in the U.S. on Black Friday this year, according to a survey conducted in early November by the National Retail Federation, a U.S. retail trade group..<\/p>\n

However, with many shoppers facing financial pressure, U.S. holiday spending is expected to rise at the slowest pace in five years.\u00a0<\/p>\n

Oil mixed ahead of OPEC+ meeting<\/strong><\/h2>\n

Oil prices traded in a mixed fashion Friday after the previous session’s U.S. holiday, but remained on course for the first positive week in five ahead of next week\u2019s OPEC+ meeting to discuss future output levels.\u00a0<\/p>\n

By 06:00 ET, the futures traded 0.5% lower at $76.70 a barrel, while the contract climbed 0.3% to $81.66 a barrel. Both contracts were up around 1% for the week, gaining after an extended rout brought prices to near four-month lows.<\/p>\n

Traders still expect the Organization of the Petroleum Exporting Countries and allies, including Russia, a group known as OPEC+, to agree to more supply cuts to boost prices.<\/p>\n

However, the OPEC+ meeting was delayed to Nov. 30, having originally been scheduled for Sunday, prompting speculation of disagreements between member countries over planned production cuts.<\/p>\n

Additionally, rose 0.2% to $1,996.40\/oz, while traded 0.1% higher at 1.0909.<\/p>\n

\u00a0<\/h2>\n

\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters Investing.com — U.S. stock futures mostly inched higher Friday, continuing November\u2019s rally at the start of a shortened trading day. By 06:00 ET (11:00 GMT), the contract was up 90 points, or 0.3%, traded 6 points, or 0.1%, higher and traded largely unchanged. The main indices on Wall Street closed higher on Wednesday,<\/p>\n","protected":false},"author":1,"featured_media":34083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-36883","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nUS stock futures edge higher; Black Friday sales in focus | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters Investing.com -- U.S. stock futures mostly inched higher Friday, continuing November\u2019s rally at the start of a shortened trading day. 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