5 things to know before the Stock Exchange opens on Friday 25 November

Michael Nagle | Bloomberg | Getty Images

Here are the most important pieces of news investors need to start their trading day:

1. Short day for stocks

We hope you have a great Thanksgiving. If you have plans to work today, please don’t overwork. US stock markets are closing early, however, at 1 PM ET. (Bond markets close at 2pm) Despite having been a short week with fairly low trading volumes, equities are on track to finish the picture in positive territory. The Fed minutes released on Wednesday gave a little more momentum to traders’ pace. Central bank policy makers have indicated that they are ready to slow the pace of rate hikes in light of the progress made in fighting inflation. Read the market updates in real time here.

2. Black Friday stakes

There’s pressure for retailers to attract a strong holiday season, which kicks off in earnest with Black Friday sales. But retailers have also largely cornered themselves with a steady stream of promotions and clearance sales dating back months as they try to shed excess inventory that has built up due to supply chain issues or simple changes in what retailers sell. customers want. The National Retail Federation said 166.3 million people are expected to shop over the weekend. It would be a record. But will they spend enough to get stores where they need to be? CNBC’s Melissa Repko explains what’s at stake for the retail industry at its most important time of the year.

3. Zelensky calls for unity

Ukrainian President Volodymyr Zelenskiy sings the national anthem during his visit to Kherson, Ukraine November 14, 2022.

Presidential Press Service of Ukraine | Reuters

On Friday, Ukrainian President Volodmyr Zelenskyy gave a pep talk to European governments, urging them to stick together as Russia’s war in his country drags on. “There is no division, there is no schism among Europeans and we must preserve that. This is our number one mission this year,” Zelenskyy said in a video address at a conference in Lithuania. Zelenskyy’s remarks came as Ukraine struggles with widespread blackouts and infrastructure failures following a flurry of Russian missile strikes. Read real-time war updates here.

4. Musk’s latest Twitter edit

SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard (not pictured) at the E3 gaming convention in Los Angeles, California June 13, 2019.

Mike Blake | Reuters

Elon Musk will throw more spaghetti at the wall of Twitter headquarters. The billionaire electric car and rocket mogul said on Friday that his social network will roll out a series of differently colored verified checkmarks next week. “Gold check for business, gray check for government, blue check for individuals (celebrities or not), and all verified accounts will be manually authenticated before the check is activated,” he wrote on Twitter, adding: “Painful, but necessary “. Musk said more details will come next week. The latest change comes after he was forced to pause the $8-a-month Twitter Blue service after many users impersonated brands and celebrities.

5. Binance flexes

Changpeng Zhao, co-founder and CEO of Binance, at the Media Village during the first day of Web Summit 2022 at the Altice Arena in Lisbon, Portugal.

Ben McShane | Sports File | Getty Images

Cryptocurrency exchange Binance said it has opened a $1 billion recovery fund for the industry as it reels from the FTX bankruptcy and scandal surrounding founder Sam Bankman-Fried. Binance, which is managed by CEO Changpeng Zhao, said the fund is aimed at helping companies that are “through no fault of their own, facing significant short-term financial hardship.” About 150 companies have already applied to the fund for help, said Binance, which added that it could increase the available cash to $2 billion, “if the need arises.”

– CNBC’s Carmen Reinicke, Sarah Min, Melissa Repko, Karen Gilchrist, Arjun Kharpal and Ryan Browne contributed to this report.

subscribe now for the CNBC Investing Club to track Jim Cramer’s every stock move. Follow the broader market action like a pro CNBC Pro.

Leave a Comment