The Dow is up 150 points as Wall Street looks to end a winning week

A retail expert says personal shopping is all the rage this year

Telsey Advisory Group CEO Dana Telsey expects to see more shoppers in stores during Black Friday and a shift from spending on home improvement to clothing and beauty.

“I think this holiday season is going to be about personal shopping,” Telsey said Friday morning on “Squawk Box.” “They’re opening later, they’re opening at 6 a.m., we’ve got more events this year than we had last year. It’s a world of difference, and I’m looking at what the promotional triggers are as we go.”

But not all sellers will be equally successful. CNBC Pro subscribers can read her list of winners and losers here.

—Alex Harring

Stocks open little changed ahead of a short trading day

Stocks opened little changed on Friday ahead of a short trading day as Wall Street looked to wrap up a winning holiday week.

The Dow Jones Industrial Average rose 19 points, or 0.09%. The S&P 500 lost 0.03% and the Nasdaq Composite fell 0.48%, weighed down by shares of Activision Blizzard, which fell nearly 4% on reports that the FTC could block Microsoft from taking over the gaming company.

– Carmen Reinicke

Stock futures flat ahead of market open

Stock futures edged back into flat territory ahead of Friday’s opening bell.

Dow Jones Industrial Average futures rose 18 points, or 0.05%. S&P 500 futures lost 0.07% and Nasdaq 100 futures fell 0.40%, weighed down by shares of Activision Blizzard, which fell in premarket trading on reports that the FTC could block Microsoft from taking over the gaming company.

– Carmen Reinicke

The Dow is stretching well above a key moving average

According to Bespoke Investment Group, the Dow is making a steady return to a key technical level.

The Dow is 9.1% above its 50-day moving average, Bespoke va said tweet on Friday. This is the most since June 2020 and the only eight times since 1990 that it has been at least 9% above the moving average.

The 50-day moving average is one benchmark that traders use to predict short-term market movements. When an average is abnormally above its moving average, it can be a sign that it is overbought.

The Dow rose 4.5% in November.

— Jesse Pound

Tesla, Manchester United: Shares make biggest pre-market moves

Here are some of the stocks making the biggest premarket moves during a shortened trading day on Friday.

Tesla ( TSLA ) – Tesla posted a 2% rise in premarket trading after it said its Full Self Driving Beta software is now available to everyone in North America. The company is still waiting for regulators to allow the cars to drive without human control.

Manchester United ( MANU ) — Shares in the soccer team jumped another 10.8% after posting two double-digit rallies on Tuesday and Wednesday following reports earlier in the week that it was considering strategic options, including a possible sale.

Read more here.

—Carmen Reinicke, Peter Schacknow

Amazon workers plan Black Friday protests

Amazon employees in the US and about 30 countries around the world plan to protest on Black Friday to call for better pay for the online retailer.

Organized as the Make Amazon Pay initiative, the campaign plans to target the retail giant during one of the busiest shopping periods of the year.

Amazon shares were little changed in premarket trading on Friday.

—Sarah Min

Activision Blizzard falls on news FTC could block Microsoft takeover

Activision Blizzard shares fell 3.7% before the bell Friday on news that Microsoft’s roughly $69 billion takeover of the company faces potential antitrust scrutiny.

Politico reported earlier this week that the Federal Trade Commission is likely to file a lawsuit blocking the acquisition, citing people familiar with the matter.

—Samantha Subin

European markets edged lower to close a winning week on dovish Fed bets

European markets were muted on Friday to close an otherwise upbeat week as the latest minutes from the US Federal Reserve meeting added to expectations that monetary policy tightening may slow.

Pan-European Stoxx 600 fell 0.2% below the flat line in early trade, with basic resources and retail falling 0.7% as most sectors and major bourses traded in slightly negative territory.

– Elliot Smith

CNBC Pro: UBS says 2023 recession will be an inch deep but a mile wide — and that’s not counting stocks

Global economic conditions will change next year and which markets and sectors are underperforming will change, according to the chief strategist at investment bank UBS.

“It’s an inch deep, but it’s a mile wide,” he said of the expected recession. “Global growth is at 2% and that’s not factoring into stocks,” Bhanu Baweja told CNBC’s “Squawk Box Europe” on Wednesday.

He also named which sectors he expects to perform better next year.

CNBC Pro subscribers can read more here.

Jenny Reid

CNBC Pro: Outbeat asset manager picks stocks to win as margins tighten

Patrick Armstrong, chief investment officer at Plurimi Wealth, believes margin compression is the “biggest risk” to the stock. But he thinks some stocks could buck the trend.

“Own sectors with defensible margins or those creating margin compression elsewhere,” he added, listing his favorite sectors and stocks.

Subscribers can read more here.

— Zavier Ong

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