Stocks that are expected to trade actively in U.S. markets on Friday include: J.C. Penney Company, Inc. (NYSE:JCP), Amazon.com, Inc. (NASDAQ:AMZN), Wal-Mart Stores, Inc. (NYSE:WMT), Target Corporation (NYSE:TGT) and Kohl’s Corporation (NYSE:KSS).
U.S.: DJIA 16,097.33 (0.15%) S&P 500 1,807.23(0.25%) NASDAQ 4,044.75 (0.67%)
Europe: FTSE 6,667.08 (0.19%), DAX 9,389.64 (0.02%), CAC 40 4,302.78 (0.01%).
GrizzlyRock Value Partners was up 16.6% for the first quarter, compared to the S&P 500's 5.77% gain and the Russell 2000's 12.44% return. GrizzlyRock's long return was 22.3% gross, while its short return was -2.9% gross. Compared to the Russell 2000, the fund's long portfolio delivered alpha of 10.8%, while its short portfolio delivered alpha Read More
Asia Pacific: NIKKEI 15,661.87 (-0.41%), SHANGHAI 2,220.50 (0.05%), HSI 23,881.29 (0.39%), ASX 5314.32 (-0.23%), KOSPI 2,044.87 (-0.04%).
Commodities: Oil 92.56 (0.28%), NAT GAS 3.93 (0.80%), Gold 1,245.80 (0.65%), Silver 19.82 (0.95%), Wheat 653.25 (0.73%), Corn 418.50(-0.30%).
Currency: EUR/USD 1.3608 (0.03%), GBP/USD 1.6324 (-0.12%), USD/JPY 102.31 (0.01%).
10 year Treasury bond: 2.759 (0.02).
Market & Economic Update
U.S. market to open higher: U.S. stock futures eked out gains as after the Thanksgiving holiday investors are getting geared up for the Christmas holiday shopping period. Ahead of the opening bell, Dow Jones industrial average index futures added 0.2%, Standard & Poor’s 500 index futures rose 0.2% and Nasdaq index futures climbed 0.4%.
European markets flat: Shares on the European indices traded flat as investors await inflation numbers, which if increased would lead to pressure on the European Central Bank to provide more stimulus. At 0841 GMT, the pan-European FTSEurofirst 300 was up 0.53 of a point at 1,305.55, having posted its highest closing level in five years the previous day.
Asian markets mixed: The Nikkei ended 0.4% lower at 15,661.87 as investor booked profits from recent gains. The exchange is still within sight of a 5-1/2 year peak of 15,942.60 marked on May 23. Hong Kong’s Hang Seng Index rose 0.3%, renewing an attempt to set a new high for the year.
Stocks to watch
J.C. Penney Company, Inc. (NYSE:JCP)
J.C.Penney will leave the S&P 500 index after the trading session ends on Friday as the stock is not suitable anymore for the large cap index. J.C.Penney will give away the snow globes on Black Friday after it was discontinued last year. The company started the giveaway tradition in 2000 and has a loyal fan base.
Amazon.com, Inc. (NASDAQ:AMZN)
Amazon will also draw attention on Black Friday. Last year, more than three and a half million orders were taken by Amazon in one day. This year the sales are expected to be even higher. Amazon is ready to address the biggest weekend of the year when it will receive orders from millions of customers.
Wal-Mart Stores, Inc. (NYSE:WMT)
Customers are flocking massively to Walmart on Black Friday. The stores are packed with customers and at some of the stores fights and stabbings were reported, as well. Wal-Mart spokesperson Brooke Buchanan said that the feedback has been great all around. Regarding the stabbing, the spokesperson said that a couple of tweets cannot be generalized over 4,600 stores.
Target Corporation (NYSE:TGT)
Target is improving its business in Canada, but is not seeing any relief in the United States. Third quarter net income for the retailer dropped more than expected due to incurring expansion cost in Canada. Target is trying to sell out extra home items and apparels to start fiscal 2014 in a stronger way.
Kohl’s Corporation (NYSE:KSS)
Kohl’s Corp is all set to repay $2 million in advance given by the Village of Menomonee Falls to help the company finance a now-abandoned project. Kohl was granted $2 million last year after it decided to develop its new corporate campus at the Woodland Prime business park near Good hope Road and Appleton Ave.