Here are the most important things to know about Friday before you hit the door.
We'll get a read on the health of the U.S. consumer on Friday when the Commerce Department releases November retail sales. November is one of the busiest months of the year for retail and includes the Black Friday holiday. Economists are estimating a 0.5% rise in retail sales in November, according to data surveyed by Dow Jones.
Retail sales increased 0.3% in October, lifted by motor vehicle purchases and higher gasoline prices, reversing September's 0.3% drop, which was the first decline in seven months. Investors will be looking to see if consumers cut back on purchases of big-ticket household items and clothing, a trend that persisted in October that worried retailers a weaker holiday shopping season.
Friday marks the last day of trading before the U.S. is slated to slap tariffs on $36 billion in Chinese goods on December 15th. As of the close on Thursday, reports said the U.S. and China were closing to making a deal, in which the U.S. would possible scrap the next round of tariffs. President Donald Trump said the U.S. is "Getting VERY close to a BIG DEAL with China," in a tweet. Investors will be looking for clarity in the arrangement come Friday.
The Labor department will release import price data on Friday. Economist polled by Dow Jones are expecting a 0.2% rise in import prices, compared to the 0.5% drop in October. U.S. import prices fell more than expected in October, pulled down by drops in the prices of petroleum products and food, suggesting imported inflation could remain tempered for a while.
Major events (all times ET):
8:30 a.m. Retail sales
8:30 a.m. Import prices
10:00 a.m. Business inventories
11:00 a.m. NY Fed President John Williams speaks