Investors prep for shortened stock session

Written By limadu on Jumat, 23 November 2012 | 17.42

U.S. stocks finished higher Wednesday.

NEW YORK (CNNMoney) -- U.S. stock futures were slightly higher Friday, as investors kept an eye on the nation's shopping malls for signs of consumer strength in the holiday shopping season.

Little major news is expected in the United States Friday on a holiday-shortened trading day, so investors will turn their attention to Europe and continuing questions over Greece's finances.

European finance ministers failed to finalize the details of a debt-reduction package for Greece before the close of their meeting Wednesday. The officials had been expected to agree to release the funds for Greece so it would be able to make payments due in December.

Many Americans have already gotten their holiday bargains for Black Friday, the traditional kickoff to the shopping season. Leading retailers Wal-Mart (WMT, Fortune 500) and Target (TGT, Fortune 500) opened at 8 p.m. on Thanksgiving night, and big crowds were reported at the stores.

U.S. markets were closed Thursday for Thanksgiving. Stocks finished higher Wednesday as investors focused on positive U.S. economic numbers.

Fear & Greed Index

European stocks were higher. Asian markets closed with gains.

Economy: No major economic reports are expected on Friday.

Companies: Hostess Brands received approval from a bankruptcy judge Wednesday to shut down and begin selling off its assets.

Currencies and commodities: The dollar fell against the euro and yen, but was slightly higher versus the British pound.

Oil for January delivery eased 32 cents to $87.06 a barrel.

Gold futures for December delivery climbed $5.50 to $1,733.70 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury edged higher, cutting the yield to 1.67% from 1.69% late Wednesday. To top of page

First Published: November 23, 2012: 5:30 AM ET


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