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Nov 26, 2018

Before the Bell: Dow set for a triple-digit rise at the open after Black Friday losses


Ryan Browne


U.S. stock futures pointed to a higher open on the first trading day of the week after big losses during the previous week.
Dow Jones Industrial Average futures were up 288 points, indicating a higher open of 272 points, while S&P 500 and Nasdaq futures were also in the black.
The positive sentiment comes after one of the most important shopping events of the year pulled in a record $6.22 billion in online sales, according to data compiled by Adobe Analytics. Investors will likely be keeping a close eye on the retail sector, especially as Cyber Monday kicks off.
Shoppers browse the aisles during a Black Friday sale at a Target store, Friday, Nov. 23, 2018, in Newport, Ky.
John Minchillo | AP
Shoppers browse the aisles during a Black Friday sale at a Target store, Friday, Nov. 23, 2018, in Newport, Ky.
Stocks suffered their worst Thanksgiving week since 2011 last week as a sell-off in once-loved technology stocks and oil prices put traders into risk-off mode. Shares of the collective "FAANG" (Facebook, Amazon, Apple, Netflix and Alphabet) group all fell Friday, while oil dipped further into bear market territory.
However, on Monday, oil prices were seen in positive territory, with London Brent crude trading 1.9 percent higher to $59.92 a barrel and U.S. West Texas Intermediate crude trading 1.61 percent higher to $51.23. Investors had been rattled by fears of oversupply and waning demand in the market.
Monday is a quiet earnings day, with fashion retailer Buckle set to report results after the bell. In economic data, Chicago Federal Reserve national activity index numbers are due at 8:30 a.m. ET, while Dallas Fed manufacturing survey data are due to be released at 10:30 a.m. ET.
Politics will be another area of focus for investors this week, with the G-20 summit in Argentina and Brexit dominating headlines. The meeting of the world's most powerful leaders will bring together President Donald Trump and Chinese President Xi Jinping, at a time of intense trade tensions between the two countries. Meanwhile, the U.K. has gained the backing of the European Union on its deal to withdraw from the soon-to-be 27-member bloc.

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