Stocks – U.S. Futures Fall as Black Friday Retail Sales Kickoff

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Stocks - U.S. Futures Fall as Black Friday Retail Sales Kickoff

Investing.com – U.S. futures pointed to a lower opening on Friday, as investors turned their focus to retail stocks during the Black Friday sales rush.

The S&P 500 futures fell 11 points or 0.43% to 2,637.50 as of 6:41 AM ET (11:41 GMT) while Dow futures were down 134 points, or 0.55%, to 24,331.0. Meanwhile tech heavy Nasdaq 100 futures decreased 33 points, or 0.51%, to 6,542.75.

The stock market closes early on Friday, after remaining closed on Thursday for the Thanksgiving holiday, and trading is expected to be thin.

Stock markets will close at 1:00 PM ET (18:00 GMT). The bond markets close at 2:00 PM ET.

With no earnings on tap, investors will be watching retail stocks for reactions to the promotional activities after a lower-than-expected earnings session for the retail sector.

Luxury retailer Michael Kors Holdings Limited (NYSE:KORS) was among the top gainers in premarket trading, rising 0.64%, while Kraft Heinz (NASDAQ:KHC) gained 0.66% and Overstockcom Inc (NASDAQ:OSTK) jumped 3.06%.

Technology stocks were among the hardest hit, with the FAANG group of companies falling. Facebook (NASDAQ:FB) fell 0.94% while Apple (NASDAQ:AAPL) was down 1.04% and Amazon.com (NASDAQ:AMZN) inched down 0.77%.

On the data front, Markit is expected to release its preliminary measurements for manufacturing and services activity at 9:45 AM ET (14:45 GMT).

In commodities news, gold futures rose 0.33% to $1,225.20 a troy ounce while crude oil futures increased 1.74% to $54.36 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, fell 0.26% to 96.465.

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