Day Ahead: Top 3 Things to Watch
Published Nov 21, 2018 02:58PM ET
Updated Nov 22, 2018 03:30PM ET
Investing.com - Here’s a preview of the top 3 things that could rock markets Friday.
1. Markets Closing Early
The stock market will likely see higher-than-normal volatility Friday with an early market close and many investors and traders still away for the Thanksgiving holiday.
U.S. stock and bond markets were closed Thursday.
On Friday, stock markets will close at 1:00 PM ET (18:00 GMT). The bond markets close at 2:00 PM ET.
Stocks moved into Turkey Day on a higher note, with the broader market managing to stay in the green after a late selloff.
2. Retail in Focus on Black Friday
There are no earnings scheduled, but retail stocks will be closely watched for any reaction to Black Friday holiday sales as retailers slash prices and hold promotional events.
Known for its long lines and, at times, pandemonium to get marked down items, Black Friday was traditionally when retailers moved into the black for the year as holiday shopping began.
Now it’s an event unto itself that starts Thanksgiving evening – and for some retailers earlier – and goes through until Cyber Monday.
Big-name retail stocks were hit hard in the recent market selloff as they reported earnings, with investors piling out of companies that reported strong numbers, like Walmart (NYSE:WMT), and those that disappointed, like Target (NYSE:TGT).
What may make it difficult for investors is that retailers tend not to break out numbers for the Black Friday period, so much of the evidence on strength or weakness will be anecdotal. Twitter feeds for retail analysts will be closely watched for estimates on foot traffic and popular promotions.
3. Manufacturing and Services PMI on the Calendar
There will be one batch of data for the market to react to Friday.
Markit will releases its preliminary measurements of manufacturing and services activity at 9:45 AM ET.
On average, economists expect the Markit manufacturing purchase managers’ index (PMI) to stay steady compared with October. The November services PMI is forecast to tick up slightly.
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Written By: Investing.com
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