Morning briefing: Shopping season after thanksgiving lift retailers up
Market Wrap up:
Markets floated to the upside and hit another record highs in the pre-holiday session as more data indicated the U.S. economy sitting on a strong balance. The U.S. GDP growth revised up to 2.1% in the third quarter, and durable goods orders had a solid rose instead of declined as Wallstreet analysts had anticipated before. Meanwhile, the Fed's most recent Beige Book demonstrated the economy was still in good shape and growing humbly.
Speaking to the most market-relevant headlines, President Trump said the US-China deal is in its 'final throes'. Ten of the 11 S&P 500 major sectors posted in green, led by consumer discretionary (0.86%). And Industrial closed solitarily red with 0.10%.
(S&P 500: 3153.63 +0.42% DOW: 28164.00 +0.15% NASDAQ: 8705.18 +0.66%)
The greatest shopping weekend is only a day ahead of us and 327.2 million Americans are waiting to shop or bargain during the occasion.
Currently, the U.S. consumer confidence is standing at 125.5 and as long as this index above 100 means that consumers are optimistic about their economic situation. The solid numbers could recommend a beneficial shopping season even there are worries over economic stagnation.
From a market point of view, historically it recommends this is an excellent time for retail stocks. Since 2007, the prior week Black Friday to seven days after, the average gains of these sectors were 5%.
Since that, here are some ETF feeds for you to prepare your trading session ahead of the bell.
Besides, here are the pre-market top movers on Friday.
Markets floated to the upside and hit another record highs in the pre-holiday session as more data indicated the U.S. economy sitting on a strong balance. The U.S. GDP growth revised up to 2.1% in the third quarter, and durable goods orders had a solid rose instead of declined as Wallstreet analysts had anticipated before. Meanwhile, the Fed's most recent Beige Book demonstrated the economy was still in good shape and growing humbly.
Speaking to the most market-relevant headlines, President Trump said the US-China deal is in its 'final throes'. Ten of the 11 S&P 500 major sectors posted in green, led by consumer discretionary (0.86%). And Industrial closed solitarily red with 0.10%.
(S&P 500: 3153.63 +0.42% DOW: 28164.00 +0.15% NASDAQ: 8705.18 +0.66%)
The greatest shopping weekend is only a day ahead of us and 327.2 million Americans are waiting to shop or bargain during the occasion.
Currently, the U.S. consumer confidence is standing at 125.5 and as long as this index above 100 means that consumers are optimistic about their economic situation. The solid numbers could recommend a beneficial shopping season even there are worries over economic stagnation.
From a market point of view, historically it recommends this is an excellent time for retail stocks. Since 2007, the prior week Black Friday to seven days after, the average gains of these sectors were 5%.
Since that, here are some ETF feeds for you to prepare your trading session ahead of the bell.
Besides, here are the pre-market top movers on Friday.
Why is it moving?
For gainers,
Can-Fite +40% premarket on 9M results; provides clinical update （ $Can-Fite BioPharma (CANF.US)$)
Can-Fite Biopharma (CANF) 9M results: Revenues: $1.8M (-48.6%).
Onconova cut at Maxim, seeing another capital raise likely
( $Onconova Therapeutics (ONTX.US)$)
Onconova Therapeutics (ONTX +36.5%) is downgraded to Hold from Buy at Maxim Group, which also removes its $2 price target, citing "a combination of the dilution associated with the recent equity offering, the distressed valuation of the company, cash runway and Nasdaq compliance status."
Apollo raises Tech Data offer to $145/share after rival bid
( $美國技術數據公司 (TECD.US)$)
Apollo Global Management (NYSE:APO) raised its Tech Data (NASDAQ:TECD) takeover bid to $145/share, up from $135/share, after Tech Data received a competing offer from another bidder.
S&P makes index moves for Viacom/CBS deal; WRB -1.7%, JOE +2.7%
( $聖喬 (JOE.US)$)
RLI will be replaced in the SmallCap 600 by St. Joe (NYSE:JOE); JOE is up 2.7% after hours.
For decliners,
U.S. rig count slips again
( $VelocityShares3倍做多天然氣ETN (UGAZ.US)$, $兩倍做多彭博天然氣ETF-ProShares (BOIL.US)$)
The count of U.S. active drilling rigs falls by 1 to 802, but it was enough for the sixth straight drop in the latest Baker Hughes weekly survey.
Steep fall for China's industrial profits
( $3倍做多富時中國ETF-Direxion (YINN.US)$)
Under pressure from slowing demand at home and the fallout from the Sino-U.S. trade war, profits at China’s industrial firms slid 9.9% Y/Y in October to 427.56B yuan ($60.7B).
PG&E subject to California's inverse condemnation, judge rules
( $太平洋煤電 (PCG.US)$)
U.S. Bankruptcy Judge Montali ruled today that PG&E (NYSE:PCG) can be held strictly liable for damage caused by its power lines under California's doctrine of inverse condemnation, which holds utilities strictly liable for covering the costs of fires linked to their equipment regardless of whether they were negligent.
For gainers,
Can-Fite +40% premarket on 9M results; provides clinical update （ $Can-Fite BioPharma (CANF.US)$)
Can-Fite Biopharma (CANF) 9M results: Revenues: $1.8M (-48.6%).
Onconova cut at Maxim, seeing another capital raise likely
( $Onconova Therapeutics (ONTX.US)$)
Onconova Therapeutics (ONTX +36.5%) is downgraded to Hold from Buy at Maxim Group, which also removes its $2 price target, citing "a combination of the dilution associated with the recent equity offering, the distressed valuation of the company, cash runway and Nasdaq compliance status."
Apollo raises Tech Data offer to $145/share after rival bid
( $美國技術數據公司 (TECD.US)$)
Apollo Global Management (NYSE:APO) raised its Tech Data (NASDAQ:TECD) takeover bid to $145/share, up from $135/share, after Tech Data received a competing offer from another bidder.
S&P makes index moves for Viacom/CBS deal; WRB -1.7%, JOE +2.7%
( $聖喬 (JOE.US)$)
RLI will be replaced in the SmallCap 600 by St. Joe (NYSE:JOE); JOE is up 2.7% after hours.
For decliners,
U.S. rig count slips again
( $VelocityShares3倍做多天然氣ETN (UGAZ.US)$, $兩倍做多彭博天然氣ETF-ProShares (BOIL.US)$)
The count of U.S. active drilling rigs falls by 1 to 802, but it was enough for the sixth straight drop in the latest Baker Hughes weekly survey.
Steep fall for China's industrial profits
( $3倍做多富時中國ETF-Direxion (YINN.US)$)
Under pressure from slowing demand at home and the fallout from the Sino-U.S. trade war, profits at China’s industrial firms slid 9.9% Y/Y in October to 427.56B yuan ($60.7B).
PG&E subject to California's inverse condemnation, judge rules
( $太平洋煤電 (PCG.US)$)
U.S. Bankruptcy Judge Montali ruled today that PG&E (NYSE:PCG) can be held strictly liable for damage caused by its power lines under California's doctrine of inverse condemnation, which holds utilities strictly liable for covering the costs of fires linked to their equipment regardless of whether they were negligent.
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