#PreMarket Primer: Friday, November 29: Black Friday Weekend Underway
With six fewer shopping days during the holiday shopping season, several large retailers went all out for Black Friday weekend by deeply discounting big ticket items and even opening in the evening on Thanksgiving.
Shoppers flooded stores like Macy's, Wal-Mart and Toys R Us in search of deals on Thursday night. Many Americans stayed home to shop, IBM Digital Analytics Benchmark showed that online sales were up 10 percent from last year on Thursday evening. Nearly 140 million people are expected to spend their cash this weekend, down from last year's 147 million.
Asian markets were mixed to end the week, the Japanese NIKKEI was down 0.41 percent and Australia's ASX 200 lost 0.27 percent. However, China's Shanghai composite gained 0.42 percent and the Hang Seng index was up 0.39 percent.
European markets were mostly higher, the UK's FTSE gained 0.20 percent and the eurozone's STOXX 600 was up 0.02 percent. The Spanish IBEX was up 0.37 percent and France's CAC 40 was up 0.05 percent.
Energy futures looked poised to end the week on a high note; Brent futures were up 0.09 percent and WTI futures gained 0.30 percent. Gold gained 0.74 percent and silver was up 1.13 percent. Industrial metals were mostly lower with Tin posting the largest loss, down 0.22 percent.
Currency markets were quiet, the euro gained 0.07 percent on the dollar and the pound fell 0.11 percent against the greenback. The dollar lost 0.06 percent to the yen and 0.13 percent to the Australian dollar.
No Notable Earnings released on Thursday
No notable earnings expected on Friday
Friday's economic calendar will be relatively quiet, with notable releases including Canadian GDP, the eurozone's unemployment rate, British mortgage approvals, and German retail sales.
Tune into Benzinga's pre-market info show with Dennis Dick and Joel Elconin here .
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