[ad_1]
The US stock market indices on Friday were to open lower to end the week in style, in an abbreviated post-Thanksgiving session.
The New York Stock Exchange will close at 1 pm Eastern Time, while other financial markets will also see closures earlier on Black Friday. Transaction volumes should be thin.
How did the benchmarks behave?
Futures for the Dow Jones Industrial Average
YMZ8, -0.47%
down 79 points, or 0.3%, to 24,324 points, those of the S & P 500
ESZ8, -0.49%
were down 10 points, or 0.4%, to 2,639, while Nasdaq-100 futures contracts
NQZ8, -0.50%
fell 26 points to 6,550, a decrease of 0.4%.
Lily: Why are stock repurchases not the safety net of the stock market?
Wednesday, the Dow
DJIA, + 0.00%
closing bell gains to end less than one point at 24,464.69, the S & P 500
SPX, + 0.30%
advanced by 8.04 points, or 0.3%, to 2,649.93, while the Nasdaq Composite Index
NQZ8, -0.50%
gained 63.43 points to reach 6,972.25, up 0.9%.
For the week, the Nasdaq is forecasting a 3.8% drop a week, the Dow is about to close 3.7% lower on the truncated trading segment, while the S & P 500 is expected to post a weekly decline of 3.2% at the close of Wednesday. Trade.
According to Dow Jones Market Data, the performance of the three major indices from Monday to Wednesday marks the worst starts of the Thanksgiving week since 2011.
What motivated the market?
Investors are closely watching oil market and European policy developments after the UK and the European Union announced progress on defining relations after the UK's trade pact came out on Thursday by Britain.
At the same time, a further decline in oil futures on Friday was to shake the energy sector, as investors struggled with growing US production and President Donald Trump urged major producers to keep their prices low.
In Asia, markets were under pressure and reverberated on US shores after the Wall Street Journal announced that the US government had been trying to persuade its foreign allies to avoid the telecommunication equipment of China's Huawei Technologies.
The reports highlight persistent tensions between Beijing and Washington, related to tariffs and alleged allegations by the Trump government of apparent infringements of intellectual property rights and espionage by Chinese technology companies.
President Xi Jinping and Mr. Trump are expected to meet in Buenos Aires on the sidelines of the G-20 summit next week.
What do the strategists say?
"The global risk sentiment has fluctuated this week as investors face persistent trade tensions, Brexit uncertainties, slowing growth fears and falling oil prices," he said. FXTM analyst Lukman Otunuga said in a research note on Friday.
"The general market climate remains cautious with prudent investors and this sentiment continues to be reflected in global equity markets. Asian equities closed lower today, mainly due to continuing concern over the US-China trade dispute, while European markets are cautiously trading upward. given the positive evolution of Brexit, "he wrote.
"Nevertheless, it's a black Friday and we stick to our forecast for a good holiday shopping season, as consumers do their part," said Peter Cardillo, chief market economist at Spartan Capital , in a research note on Friday.
What stocks are under discussion?
Retailer shares Macy's Inc.
M + 2.00%
Target Corp.
TGT + 0.33%
and Best Buy Co Inc.
BBY, -2.27%
will be the focus of concern today as the kickoff of sales of Black Friday.
Shares of energy-related companies are under pressure on Friday before the bell, while the price of oil continues to decline more than 4% in the day and 20% in November. Marathon Oil Corp.
MRO + 3.01%
shares are down 5%, TechnipFMC Plc
FTI + 2.12%
stock is down 4.5%, while Devon Energy Corp.
DVN, + 3.97%
stock is down 4.3%, before Wednesday's bell.
What data are developed?
Markit's flash readings on manufacturing and services for November will be released at 9:45 am ET.
Provide essential information for the US trading day. Subscribe to the free MarketWatch Need to Know newsletter. Register here.
Source link
