Black Friday brought out tons of shoppers buying discounted retail goods, but investors were still in a selling mood. European debt concerns continue to plague the market, with new Italian notes selling at 6.5% yields. Also, on Thursday, Fitch downgraded Portugal’s credit rating, and Moody’s downgraded Hungary’s debt to junk status.
Dow futures fell 66 points to 11,168; S&P 500 futures fell 7.8 points to 1,152.1.
Retailers were mixed early on reports of robust Black Friday sales. Macy’s (M) rose 0.6% in pre-market trading. Target (TGT) and Wal-Mart (WMT) both fell less than 1%.
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