ReutersReuters

Stocks open mixed, Black Friday sales in focus

Key points:
  • U.S. equity indexes open mixed; Dow best performer
  • Euro STOXX 600 index gains ~0.15%
  • Dollar, crude up; gold, bitcoin drop
  • U.S. 10-Year Treasury yield rises to ~3.73%

STOCKS OPEN MIXED, BLACK FRIDAY SALES IN FOCUS (1000 EST/1500 GMT)

U.S. stocks opened mixed on Friday with Black Friday sales taking the main focus as investors weighed whether consumers will be enticed by discounts as they struggle with high inflation and concerns about economic growth.

Target Corp TGT, Macy's Inc M and Best Buy Co Inc BBY have said they would offer steeper discounts this November and December than in the previous two years, which could threaten their profit margins.

Trading volumes on Friday are expected to be subdued after U.S. markets were closed on Thursday for the Thanksgiving holiday.

The Dow Jones Industrial Average DJI was the best performing major index, opening up 0.39%, followed by the S&P 500 SPX, which eeked out minor gains. The Nasdaq Composite IXIC fell 0.41%.

Sector wise, utilities S5UTIL, energy SPN and real estate S5REAS led gainers, while info tech S5INFT, communications services S5TELS and consumer discretionary S5COND were the worst performers.

Monitor
Thomson ReutersMonitor

(Karen Brettell)

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