5 things you should know before the stock market opens on Friday, November 25

Michael Nagle | Bloomberg | Getty Images

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

1. Short day for supplies

We hope you had a great Thanksgiving. If you have work scheduled today, don’t work too hard. Anyway, the US stock markets exit early at 1pm ET. (Bond markets close at 2 p.m.) Although it’s a short week with somewhat light trading volumes, stocks are on pace to finish the frame in positive territory. The note from the Fed released on Wednesday put a little extra in traders’ steps. Central bank policymakers have indicated they are prepared to slow the pace of rate hikes, signaling some progress in the fight against inflation. Read live market updates here.

2. Black Friday bets

Consumers are choosing more about how they spend

The pressure is on for retailers to launch a strong holiday season, which begins in earnest with Black Friday sales. But retailers have also largely backed themselves into a corner with a steady stream of promotions and sales dating back several months as they try to clear excess inventory that has built up due to supply chain issues or simply changes in what customers want. The National Retail Federation said 166.3 million people were expected to shop over the weekend. That would be a record. But will they spend enough to get the stores where they need to be? CNBC’s Melissa Repko explains what’s at stake for retail at its most important time of year.

3. Zelenskyi urges unity

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

Press Service of the President of Ukraine | Reuters

Ukrainian President Volodymyr Zelenskyi on Friday encouraged European governments to stick together as Russia’s war drags on in his country. “There is no split, there is no schism among Europeans, and we must preserve this. This is our number one mission this year,” Zelenskyy said in a video speech at a conference in Lithuania. Zelensky’s remarks came as Ukraine grapples with widespread power outages and infrastructure failure following a spate of Russian missile attacks. Read live war updates here.

4. Musk’s latest Twitter gimmick

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

Mike Blake | Reuters

Elon Musk is about to throw more spaghetti at the wall at Twitter HQ. The billionaire electric car and rocket ship mogul said Friday that his social network will launch a series of verified checkmarks in different colors next week. “Gold check for companies, gray check for government, blue for individuals (celebrity or not) and all verified accounts will be manually verified before the check is activated,” he tweeted, adding: “Painful but necessary.” Musk said more details will come next week. The latest change comes after it was forced to suspend Twitter’s $8-a-month Blue service after many users impersonated brands and celebrities.

5. Binance Flex

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

Ben McShane | Sportsfile | Getty Images

Crypto exchange Binance said it has opened a $1 billion recovery fund for the industry as it grapples with the bankruptcy of FTX and the widening scandal surrounding founder Sam Bankman-Fried. Binance, which is run by CEO Changpeng Zhao, said the fund is intended to help firms that “face significant, short-term financial difficulties through no fault of their own.” About 150 companies have already applied for help from the fund, Binance said, adding that it can increase the available money to $2 billion “if needed.”

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

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