November 28 Premarket Briefing: 10 Things You Should Know - TheStreet

NEW YORK (TheStreet) -- Here are 10 things you should know for Friday, Nov. 28:

1. -- U.S. stock futures were trading mixed Friday and European shares were lower after OPEC said it would stick to its production targets.

Asian shares ended Friday's session mixed.

2. -- The economic calendar in the U.S. on Friday is empty.

3. -- U.S. stocks on Wednesday (markets in the U.S. were closed Thursday for Thanksgiving Day) finished higher with the S&P 500 scoring another record close on trading volumes near 12-month lows as investors clocked out early for the Thanksgiving break.

The Dow Jones Industrial Average added 0.07% to end the day at a record close of 17,827.75, while the S&P 500 climbed 0.28%, to new all-time high at 2,072.77. The Nasdaq spiked to a 14-year high, up 0.61%.

4. -- Prices of crude oil fell and energy shares moved lower on Friday after OPEC decided to maintain production at 30 million barrels a day despite global oversupply.

Oil prices fell to four-year lows. Benchmark U.S. crude oil fell almost 7% to $69.08 a barrel in electronic trading on the New York Mercantile Exchange. 

Exxon Mobil (XOM) - Get Report shares fell 4.5% in premarket trading. Chevron (CVX) - Get Report declined 4.2%.

5. -- Retailers such as Walmart (WMT) - Get Report , Best Buy (BBY) - Get Report , Target (TGT) - Get Report and Amazon (AMZN) - Get Report will be in focus on "Black Friday," the traditional start to the holiday shopping season.

However, many retailers have pushed their sales and promotions to Thanksgiving Day. The National Retail Federation estimated that 25.6 million shoppers would take advantage of stores that were opened on the holiday; which is down slightly from last year.

6. -- A judge has temporarily banned Uber's unlicensed operations in Nevada and the ride-sharing company said it temporarily has stopped offering rides in the state as a result.

"It's unfortunate that Nevada is the first state in the nation to temporarily suspend Uber," a spokeswoman said, adding that the shutdown would cost nearly 1,000 jobs.

Nevada's attorney general told The Associated Press that Uber has been shut down because it thumbed its nose at regulators and deliberately broke the law to maximize profits as long as it could.

Uber didn't seek the proper licenses because it maintains that it's a technology company, not a motor carrier.

7. -- Music publishers BMG Rights Management and Round Hill Music have sued cable giant Cox Communications, claiming that Cox, which provides Internet service to millions, is deliberately turning a blind eye to illegal downloading by its subscribers, The Wall Street Journal reported.

10. -- Seadrill (SDRL) - Get Report , the offshore drilling contractor, suspended its dividend in a move to trim its debt.

-- Written by Joseph Woelfel

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