Business news: Thanksgiving dominates, Black Friday awaits
By Jenny McCall
13:43, 25 November 2021
- It's Thanksgiving today in the US and the markets there are closed. Tomorrow investors will be watching key retail stocks as the holiday shopping season kicks in with Black Friday deals. Investors are weighing supply chain issues against potential sales to see if there are any wins to be hand.
- German gross domestic product (GDP) increased by 1.7% in the third quarter of 2021 compared to the second quarter of the year.
- Goldman Sachs strategists expect the US Federal Reserve to likely double the pace of the tapering of its monthly bond purchases from January to $30bn, and wind down its pandemic-era bond buying scheme by mid-March, according to a report by Reuters.
Business and economic news
- General Mills (GIS) has agreed to sell its European dough businesses to Cérélia, a chilled ready-to-bake dough product specialist. The price was not disclosed.
- Retail and leisure assets specialist NewRiver REIT saw its shares soar today after it revealed its half-year losses narrowed to £49.9m ($66.5m) as its operational and financial metrics improved significantly.
Stocks: The New York Stock Exchange and Nasdaq both closed today for Thanksgiving
Oil: Oil prices steadied today, as investors eyed how major producers respond to the U.S.-led emergency oil release
Gold: Gold prices edged higher today, driven by persistent inflation concerns.
Forex: The dollar rose higher today, as investors bet on interest rates rising in the US quicker than other major economies.
Crypto: Bitcoin was up 4.00% and Ethereum was up 4.03% today.
What to watch today
- UK pub operator Mitchells & Butlers has announced a return to profitability since Covid-19 restrictions were lifted but warned the trading environment remains challenging.
Markets in this article