5 things to know before the stock market opens Monday, November 28

NYSE floor traders

Source: NYSE

Here are the most important news investors need to start their trading day:

1. Eyes on China and data

Markets face a new test this week after protests broke out across China (more on that below). The unrest, driven by anger over the Chinese government’s draconian Covid controls, weighed on Asian stocks and appeared to weigh on early sentiment before US markets opened. Last week, stocks closed on a positive note after the shortened Thanksgiving frame. This week, however, we’re back to business as usual. More earnings are on deck, including Hewlett Packard Enterprise on tuesday, Salesforce on Wednesday and Kroger on Thursday. Friday will bring the October jobs report, which will spark a new wave of speculation about the Federal Reserve’s next move in its fight against inflation. Read live market updates here.

2. Protests in China

Demonstrators hold blank signs and chant slogans during a protest against Covid restrictions across China. Source: Bloomberg

Bloomberg | Bloomberg | Getty Images

Chinese citizens’ frustration with President Xi Jinping’s harsh “zero Covid” policy spilled into the streets across the country over the weekend. It was a rare outburst of protest in the nation of 1.4 billion, challenging Xi’s increasingly tight control over people’s daily lives. While the government has indicated it may relax some of its Covid rules, which include strict quarantines and constant testing, cases have jumped and officials have instituted more controls. The protests began on Friday in the city of Urumqi in Xinjiang province, where 10 people died in an apartment fire in an area that had been under lockdown for several months. Others appeared in Shanghai, Beijing and Wuhan, where the first Covid broke out. In many cases, demonstrators held blank white sheets in apparent protest against censorship. Some reports, meanwhile, said several protesters called for Xi to step down.

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3. The big retail weekend

Black Friday shoppers wait to enter the Nike store at the Opry Mills Mall in Nashville, Tennessee, on November 25, 2022.

Seth Herald | AFP | Getty Images

Bargain-hungry Americans opened their wallets over the Thanksgiving holiday, as crowds returned to stores and people shopped from their phones and computers while watching the -football, eat turkey and ignore annoying relatives. According to Adobe, online retailers set a record for sales on Black Friday, bringing in more than $9 billion. Cyber ​​Monday is expected to be even bigger. However, it remains to be seen if this momentum will continue over Christmas. Consumers have already shown they’re being strategic with their spending: Even with deals that started in October, shoppers slowed back to November, indicating that many were waiting to see what new deals were in store.

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4. Disney Thanksgiving Turkeys

Cast member Jake Gyllenhaal attends the premiere of ‘Strange World’ in London, Britain, November 17, 2022.

Peter Nicholls | Reuters

Sure enough, “Black Panther: Wakanda Forever” pulled off another superheroic performance at the box office this weekend, making sure Disney won another Thanksgiving holiday. But the studio’s big animated offering for the season, “Strange World,” tanked miserably. The film, a retro sci-fi adventure with some 21st-century twists, posted the worst three-day opening weekend for a Disney animated film since 2000’s “The Emperor’s New Groove,” a film that was notoriously riddled with production problems. The failure of “Strange World” — which was not heavily marketed and annoyed both critics and audiences — comes at a crucial moment for Disney and is emblematic of the problems that Bob Iger should fix it on his second trip. round as CEO. Iger, meanwhile, is expected to hold a Town Hall with Disney employees at 12 pm ET Monday, in which he will outline his vision for the company’s future.

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5. Ukraine prepares for more Russian attacks

People use their cellphone flashlights to look at items in a sporting goods store during a power outage, after critical civilian infrastructure was hit by Russian missile attacks in Ukraine, as the invasion continues of Russia of Ukraine, in Kyiv, on 26 November 2022.

Gleb Garanich Reuters

Ukrainian President Volodymyr Zelenskyy warned the nation of further Russian missile attacks as citizens of the former Soviet country were already dealing with mass blackouts and frigid temperatures. “We understand that the terrorists are planning new strikes. We know this for a fact,” Zelenskyy said on Sunday. “And as long as they have missiles, they, unfortunately, will not calm down.” Elsewhere, Kyiv Mayor Vitali Klitschko pushed back at Zelenskyy’s criticism that he had not set up enough places for city residents seeking shelter, warmth and support during Russian raids. “I don’t want, especially in the current situation, to get into political battles. It’s ridiculous. I have something to do,” said Klitschko. Read the live updates of the war here.

– CNBC’s Carmen Reinicke, Evelyn Cheng, Melissa Repko, Ashley Capoot, Sarah Whitten and Holly Ellyatt contributed to this report.

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