5 things to know before the stock exchange opens on Friday 25 November

Michael Nagle | Bloomberg | Getty Images

Here are the key news investors need to start their trading day:

1. Short day for stocks

We hope you had a great Thanksgiving. If you are scheduled to work today, don’t work too hard. The American stock markets are at least knocking early from 1 p.m. ET. (Bond markets close at 2:00 p.m.) Despite being a short week with somewhat low trading volume, stocks are on pace to finish the frame in positive territory. The Fed minutes released Wednesday put a little extra pep in traders’ steps. Central bank policymakers indicated they are ready to slow the pace of rate hikes as there are signs of progress in the fight against inflation. Read live market updates here.

2. Black Friday bets

Consumers are more selective with how they spend

The pressure is on for retailers to pull off a strong holiday season, which kicks off in earnest with Black Friday sales. But retailers have also largely painted themselves into a corner with a steady stream of promotions and sales going back months now as they try to clear out excess inventory that piled up due to supply chain issues or simply changes in what customers want. The National Retail Federation said 166.3 million people are expected to shop over the weekend. That 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 the retail industry at its most important time of year.

3. Zelenskyy calls for unity

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

The Ukrainian Presidential Press Service | Reuters

Ukrainian President Volodmyr Zelenskyy gave European governments a pep talk Friday, urging them to stick together as Russia’s war in his country drags on. “There is no division, there is no schism among Europeans and we have to preserve this. This is our number one mission this year,” Zelenskyy said in a video address to a conference in Lithuania. Zelenskyy’s remarks came as Ukraine grapples with widespread power outages and infrastructure failure following a barrage of Russian missile attacks. Read live war updates here.

4. Musk’s latest Twitter tweak

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

Mike Blake | Reuters

Elon Musk is going to throw some more spaghetti at the wall at Twitter headquarters. The billionaire electric car and rocket ship mogul said Friday that his social network will roll out a variety of different colored verified ticks next week. “Gold check for businesses, gray check for government, blue for individuals (celebrity or not) and all verified accounts will be manually approved before check is activated,” he wrote on Twitter, adding: “Painful but necessary.” Musk said more details will come next week. The latest change comes after he was forced to pause the $8-a-month Twitter Blue service after many users impersonated brands and celebrities.

5. Binance bows

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

Ben McShane | Sports File | Getty Images

Crypto exchange Binance said it opened a $1 billion recovery fund for the industry as it reels from the bankruptcy of FTX and the growing scandal surrounding founder Sam Bankman-Fried. Binance, run by CEO Changpeng Zhao, said the fund is intended to help companies that “through no fault of their own are facing significant, short-term financial difficulties.” About 150 companies have already applied for help from the fund, said Binance, which added that it may increase the available money to $2 billion “if the need arises.”

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

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