• German IFO should confirm optimism provided by preliminary PMI prints
  • PMIs from the US economy are also among top figures in today’s calendar
  • It’s Black Friday – stocks could react to sale reports

The Friday’s economic calendar is calm as we get just the second tier data from Europe and the US. Moreover, due to Thanksgiving on Thursday today’s session on Wall Street is closing earlier than usual – at 6 pm BST. Nevertheless, it’s Black Friday, thus sale reports could spur higher reactions on the stock market.

9:00 am BST – Germany, IFO indices for November. Preliminary PMIs beamed with optimism propping up EUR and most of European stock markets. Thus, IFO shouldn’t disappoint and given that it’s less important than PMIs larger market reactions are rather unlikely. Along with this figure, we also get numbers from the Italian industrial sector and Spanish producer prices. ECB’s Constancio (12:30 pm BST) and Coeure (6:15 pm BST) are also due to speak. The consensus calls for a small decline in IFO Business Expectations Index to 108.9 from 109.1.

2:45 pm BST – US, flash PMIs for November. European economy has been blooming this year and it seems that the US has started catching up. Although in the US PMIs are less relevant for investors than ISMs but this figures should give us a hint where the economy has been going recently. The manufacturing PMI is seen rising to 54.8 from 54.6, whilst services are expected to inch up to 55.6 from 55.3.

US, Black Friday (all day long). Thanksgiving day is important to the Americans and Black Friday is important to the markets. It begins a Christmas sales season which is crucial for the retailers and shows economic strength. Thus, it might influence stocks of some retailers. Moreover, we’ve got an early close on Wall Street at 6:00 pm BST.

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 US500 has stalled ahead of 2,600 handle. Will sale reports push it above this resistance? Source: xStation5