U.S. markets will be trying to gauge the strength of the 2003 holiday shopping in short session.
November 28, 2003: 5:19 AM EST
NEW YORK (CNN/Money) - The crowds at the nation's shopping malls and discount stores will be the focus of U.S. stock markets Friday as investors check out the strength of the retail sector this holiday season.
At 5:20 a.m. ET, futures pointed to a lower open for the major indexes. The stock markets will be open until 1 p.m. ET as the celebration of the Thanksgiving holiday continues; they were closed Thursday.
The day after Thanksgiving is traditionally the launching point for the holiday sales rush, and observers are split about how strong a season this will be. The National Retail Federation says it expects a 5.7 percent increase in sales, but a Conference Board report earlier this week indicated that households will spend about 5 percent less this year.
Among U.S. stocks trading in Europe, No. 1 retailer Wal-Mart Stores (WMT: Research, Estimates) was slightly lower.
The dollar could be among the factors weighing on the market Friday as it tested all-time lows against the euro near the $1.20 mark; the U.S. currency was slightly higher against the yen.
The Dow Jones industrial average enters Friday's shortened session up more than 151 points so far this week, including Wednesday's 0.2 percent gain. The Nasdaq composite index is up more than 59 points for the week to date, including a 0.5 percent advance Wednesday.
Asian-Pacific stocks closed mostly higher Friday, but Tokyo's Nikkei index slipped 0.6 percent. European markets trended lower in early trading. (Check the latest on world markets)
Treasury prices were little changed, with the 10-year note yield at 4.25 percent.
Brent oil futures slipped 3 cents to $28.67 a barrel in London. Gold was higher in early trading.
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