* NRF expects holiday sales to grow 3.6 pct
* Online spending surges 14 pct on Thanksgiving-Adobe
* Retailers' shares rise premarket
* Ctrip jumps on deal to acquire UK's Skyscanner
* Futures up: Dow 58 pts, S&P 5.25 pts, Nasdaq 10.25 pts
(Adds details, comments, updates prices)
By Yashaswini Swamynathan
Nov 25 The S&P 500 and the Dow were poised to
eke out enough gains to hit record highs on Black Friday, with
the focus on retailers at the start of the crucial holiday
Trading volumes are expected to be relatively thin, with the
U.S. stock market scheduled to close at 1:00 p.m. ET (1700 GMT).
The market was shut on Thursday for the Thanksgiving holiday.
Since the U.S. election, the three main U.S. indexes have
hit all-time highs and closed at record levels multiple times in
the past few days, most recently on Wednesday, when industrials
boosted the Dow and S&P to record-high closes.
"Trump's stock market honeymoon continues as the indices
push higher this morning, and the focus now shifts to holiday
sales," said Peter Cardillo, chief market economist at First
Standard Financial in New York.
The holiday shopping season is crucial for retailer as it
accounts for as much as 40 percent of their annual sales. But
they have been struggling to pull shoppers into stores as people
increasingly prefer the ease and year-long deals available
The National Retail Federation, which has been overly
optimistic with projections in the past, expects holiday sales
to grow 3.6 percent this year to $655.8 billion.
Online spending surged almost 14 percent to top $1 billion
by Thanksgiving evening, according to Adobe Digital Index.
Shares of department store chain Macy's rose 1.3
percent to $45.49 in premarket trading after Chief Executive
Terry Lundgren told CNBC that apparel sales picked up on
Amazon.com, Wal-Mart, Target and
eBay were up between 0.4 percent and 0.7 percent.
Dow e-minis were up 58 points, or 0.3 percent at
8:30 a.m. ET (1330 GMT), with 40,613 contracts changing hands.
S&P 500 e-minis were up 5.25 points, or 0.24 percent,
with 168,985 contracts changing hands.
Nasdaq 100 e-minis were up 10.25 points, or 0.21
percent, in volume of 25,009 contracts.
"At one point or another this market is going run into a
brick wall, but right now it's still being supported by the
enthusiasm of Trump's pro-growth program," Cardillo said.
China's Ctrip.com jumped 9.5 percent to $44.89
after agreeing to buy UK travel search website Skyscanner in a
deal valued at around $1.74 billion.
Johnson & Johnson edged up 0.4 percent after
Bloomberg reported on Thursday that the healthcare company had
approached Swiss biotechnology firm Actelion about a
Meanwhile, oil prices fell 1.1 percent amid uncertainty that
the OPEC would arrive at a decision to cut production during a
meeting next week. The dollar was off 0.23 percent.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by