Wall Street expected to rise at start of shortened Black Friday session

Wall Street expected to rise at start of shortened Black Friday session

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On what will be a half-day of trading after yesterday’s Thanksgiving Day holiday, indices on Wall Street are set to open higher. The Dow Jones Industrial Average is tipped to advance 55 points to 29,927 at the start of trading while the S&P 500 is expected to harden 7 points to 3,636. The NASDAQ Composite is on course for a 104 point gain to 12,198. There is little in the way of macroeconomic news to keep US traders occupied before they slope off to give the credit card a caning with some online shopping on Pavlov’s Day – otherwise known as Black Friday. “The excitement around this day in the US is extraordinary as is the competition for bargains – you can see the result on the “Black Friday Death Count” website, which tracks how many people are killed on this day (doesn’t seem to have been updated last year though, but maybe no one was killed last year),” commented Marshall Gittler at BDSwiss. Three things to watch for on Friday: Oil prices may be an area of interest at the end of the week ahead of next week’s meeting of the OPEC+ nations, where the cartel will decide whether to proceed with planned production increases in January or hold back as the pandemic continues to dent demand for crude Meanwhile, gold could see itself depressed following a brief reprieve yesterday as vaccine optimism drives investors away from the yellow metal While the earnings calendar is pretty threadbare, investors will likely be eyeing the performance of retailer stocks as Black Friday kicks off, with strong online retailers such as Amazon Inc (NASDAQ:AMZN) likely to draw market attention

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