Friday’s Headlines: Black Friday Is Upon Us
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Slack Technologies (WORK) +37.6%
Nordstrom (JWN) +11.6%
Smartsheet (SMAR) +8.0%
Chegg (CHGG) +5.6%
Etsy (ETSY) +5.4%
Moving Down ⬇️
Pure Storage (PSTG) -8.2%
Ford Motor Company (F) -3.9%
Planet Fitness (PLNT) -3.3%
IMAX (IMAX) -2.6%
Texas Roadhouse (TXRH) -2.5%
As the market was closed yesterday for Thanksgiving celebrations, there were no developments in the U.S stock market. Don’t forget the New York Stock Exchange will close today at 1 p.m. ET.
1. The stock market is taking a half-day today, so make sure you check out all the Black Friday deals! The U.S. sales phenomenon coincides with a pandemic this year, resulting in the event changing into the longest Cyber Monday ever. Despite record levels of COVID-19 infections in the states, retailers are still opening their doors and have taken extra precautions to ensure the safety of shoppers for the holiday season.
2. Across the pond, the UK is cracking down on Big Tech by imposing new regulations on Google (GOOGL) and Facebook (FB). The rules were designed to prevent the two companies from abusing their market dominance by giving consumers more control over their data. Tech companies will be given clear guidelines on what is acceptable behavior when interacting with both competitors and users.
3. Doubts raised over the AstraZeneca-Oxford vaccine caused the Dow Jones (DJI) to fall 0.3% and the S&P 500 (INX) to sink 0.25% yesterday. News emerged on Thursday that administration of the half-dose was only given to a smaller number of volunteers than those who received two full doses, resulting in questions over the effectiveness of the vaccine. The Dow Jones, S&P 500, and Nasdaq are all up around 2% so far this week.