Stocks Opened Flat on Black Friday
- Friday, November 27, 2015, 10:58
- Stock Market
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U.S. stocks opened little changed on Friday as investors will focus on retailers’ Black Friday sales numbers. The Dow Jones Industrial Average lately slipped 40.79 points, or 0.23%, to 17,772.60. The S&P 500 was down 1.90 points, or 0.09%, to 2,086.97. The Nasdaq Composite was up 1.80 points, or 0.04%, to 5,117.94.
Crowds were thin at U.S. stores and shopping malls in the early hours of Friday, initial spot checks showed, as shoppers responded to early Black Friday discounts with a mix of enthusiasm and caution.
Consumers have plenty to be thankful for this holiday season: the job market has improved with the unemployment rate falling to 5% in October, wages are heading higher, and gas prices are at the lowest since 2008 according to AAA.
Crude oil futures fell on Friday, bringing losses this month to more than 8 percent. Brent crude fell by 5 cents to $45.41 per barrel by 1311 GMT, after settling down 71 cents at $45.46 in the previous session. It traded as low as $44.80 earlier in the session.
Rio Tinto has given a go-ahead to a $1.9bn project to build an Australian bauxite mine, defying a deepening commodities downturn. The investment is the largest that Rio has approved for more than two years.
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