Futures on US Stocks generally fell this morning, but entertainment stock stays strong


There is no doubt at all that during the past two and a half years that the global markets are not the same as they have ever been in even the half century that preceded this very unusual period.

One thing doesn't change, however, and that is the American love affair with productions from the world's most famous entertainment companies.

As the Thanksgiving holiday approaches, and people across the United States prepare for the annual festivities and well-deserved time off from work, Disney shares have risen by a remarkable 9%.

This spike could be down to some shrewd investment, but it is more likely that the viewing figures will be higher over this period as people sit down to enjoy their favorite shows, as the Thanksgiving holiday's winter weather is not everyone's bag unless heading for the hills for a spot of skiing.

Other than that, futures in stocks have actually dropped in value, this could be due to a pessimistic approach to the forthcoming series of earnings announcements from retail companies and the short working week in the United States as the country prepares to begin the Thanksgiving holiday.

Overall, this week has been a period of reflection for many investors who have looked back on the relative strength of a recent bear market rally, which began earlier in November with the October consumer price index reading and gained some steam with last week’s reading on wholesale prices.

Perhaps the moves that have been less than surprising so far during today's trading session have centered around large, publicly listed cryptocurrency exchanges. Coinbase stock decreased in value by 4% as nerves have yet to be quelled following the catastrophic and high profile demise of FTX which went bankrupt this month and now owes over $30 billion to its creditors.

It could be viewed as somewhat churlish to take a nervous view of other cryptocurrency exchanges just because of one high profile demise, however the historic collapses of pioneering exchanges such as MtGox over 10 years ago happened in the very early stages of digital asset investment. Today, with regulation and public listings, there are far less of such occurrences.

Which ever way this can be viewed, it is definitely a time for volatility in that sector.

As Black Friday deals are now the order of the day, it will be interesting to follow the performance of retail stocks, and how the market responds to the forthcoming retail earnings announcements combined with the Black Friday sales bonanza that is about to take hold globally.

Thanksgiving is not just for enjoyment within the borders of the United States these days!

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