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5 things to know before the stock market opens Friday – NBC New York

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Here’s the most important news investors need to start their trading day:

1. Short day for stocks

We hope you had a great Thanksgiving. If your work is tied up today, don’t work too hard. Anyway, the US stock markets are knocking early at 1 p.m. (Bond markets close at 2pm) Despite a short week with some low trading volumes, equities are on track to end the frame on a positive note. The Fed minutes released on Wednesday added some spice to traders’ footsteps. Central bank policymakers have signaled their willingness to slow the pace of interest rate hikes, given that some progress has been made in the fight against inflation. Read live market updates here.

2. Black Friday Bet

Retailers are under pressure to start a strong holiday season, which kicks off with Black Friday sales. But retailers have also painted themselves into a corner with massive promotions and a steady stream of sales from months ago as they tried to clear excess inventory clogging the supply chain. have accumulated due to maintenance problems or changed customer wishes. The National Retail Federation said 166.3 million people are expected to shop on weekends. This would be a record. But will they spend enough to get stores where they need to be? CNBC’s Melissa Repko explains what’s at stake for retail during the most important time of the year.

3. Zelensky insists on unity

Ukrainian Presidential Press Service | Reuters

Ukrainian President Volodymyr Zelensky sings the national anthem during his visit to Kherson, Ukraine, November 14, 2022.

Ukrainian President Volodymyr Zelensky gave a pep talk to European governments on Friday, urging them to join hands as Russia’s war against his country continues. ‚ÄúThere is no division, there is no schism between Europeans and we must maintain that. That is our number one mission this year,” Zelensky said in a video address at a conference in Lithuania. Zelensky’s comments come at a time when Ukraine is experiencing widespread blackouts and infrastructure failures due to Russian missile strikes. Read live war updates here.

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4. Musk’s latest Twitter tweak

Mike Blake| Reuters

SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with veteran game designer Todd Howard (not pictured) at the E3 gaming convention on June 13, 2019 in Los Angeles, California.

Elon Musk is about to throw some more spaghetti at the wall at Twitter HQ. The billionaire electric car and rocket tycoon said Friday that his social network will launch a series of verified checkmarks in different colors next week. “Gold check for businesses, gray check for government, blue for individuals (celebrities or not) and all verified accounts are manually verified before the check is activated,” he wrote on Twitter. Musk said more details would come next week. The latest change comes after several users were forced to pause the $8 per month Twitter Blue service after several users impersonated brands and celebrities.

5. Binance Flex

Ben McShane | Sports File | Getty Images

Changpeng Zhao, Co-Founder and CEO, Binance, at Media Village during the first day of Web Summit 2022 at Altice Arena in Lisbon, Portugal.

Crypto exchange Binance said it has opened a $1 billion recovery fund for the industry as it recovers from the bankruptcy of FTX and the widespread scandal surrounding founder Sam Bankman-Fried. Binance, led by CEO Changpeng Zhao, said the fund aims to help companies that are experiencing “significant, short-term financial distress through no fault of their own”. Binance said about 150 companies have applied for help from the fund, adding that it could increase available funds to $2 billion if needed.

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– CNBC’s Carmen Renicke, Sarah Min, Melissa Repko, Karen Gilchrist, Arjun Kharpal and Ryan Brown contributed to this report.

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Source: news.google.com

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