Freedomworks economist Steve Moore shares his thoughts on the unexpected rise in jobless claims as coronavirus cases rise and weighs on Janet Yellen’s appointment as Secretary of the Treasury.
Stock futures rose on Friday morning as traders braced for a cut short session over the holidays.
Dow Jones Industrial Average futures were trading up 56 points, or 0.19%, while S&P 500 and Nasdaq futures were up 0.16% and 0.36%, respectively. The early advance has the high tech Nasdaq on track to open at an all time high and the Dow and S&P 500 are battling for their own record highs.
When it comes to inventory, stores are concentrated as Black Friday shopping takes a different tone this year due to COVID-19. Online retailers, meanwhile, are gearing up for Cyber Monday, which takes place in three days.
BLACK FRIDAY 2020: MORE AMERICANS WILL BUY MORE ONLINE THAN IN STORES FOR THE FIRST TIME EVER, POLL CLAIMS
AstraZeneca plc was moderately lower before the opening bell after CEO Pascal Soriot told Bloomberg News the company would likely retest its COVID-19 vaccine because some participants were receiving incorrect dosages.
Shares of Slack Technologies Inc. were showing a drop of more than 4% at the opening as traders digested a possible deal with Salesforce.com Inc. Shares of Slack climbed 38% after news of advanced negotiations between the two companies erupted on Wednesday.
U.S. stock markets will close at 1 p.m. ET respecting Thanksgiving weekend. There is no economic data on the calendar.
On the commodities front, West Texas Intermediate crude oil fell 38 cents to $ 45.33 per barrel while gold slipped 50 cents to $ 1,810.70 per ounce.
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European markets traded with the French CAC 40 up 0.48% and the German DAX 30 up 0.29%. Britain’s FTSE 100 fell 0.46% amid the uncertainty surrounding Brexit negotiations.
In Asia, the Shanghai Composite Index in China accelerated the advance, up 1.15%, while Japan’s Nikkei 225 and Hang Seng indexes rose 0.4% and 0.28%, respectively.
