* U.S. stock futures slip in thin holiday trade
* Investors fear weak "Black Friday" sales
* Energy shares pressured as oil prices slip below $54
* For up-to-the-minute market news, please click on
STXNEWS/US
(Updates with comment, before the bell share moves)
By Kristina Cooke
NEW YORK, Nov 28 (Reuters) - U.S. stocks were poised to
open moderately lower in thin holiday trade on Friday after a
four-day streak of gains as investors nervously eyed the
post-Thanksgiving sales to gauge how retailers will fare this
holiday season in a weakening economy.
Exxon Mobil <XOM.N> shares dipped 1 percent before the bell
as oil fell below $54 a barrel on course to end the month down
more than 20 percent as OPEC ministers gathered to discuss
potential further supply cuts to combat global falling demand.
The U.S. stock market was closed Thursday for the
Thanksgiving holiday and is trading for half the day on Friday.
On Wednesday, stocks ended higher, capping a which marked the
Dow's biggest four-day percentage gain since 1932.
"We're going to wake up here with a bit of a post
Thanksgiving hangover. There's some moderate downward pressure
and some profit taking after that sharp rally over the last
trading sessions," said Peter Kenny, managing director at
Knight Equity Markets in Jersey City, New Jersey.
S&P 500 futures <SPc1> fell 4.8 points. Dow Jones
industrial average futures <DJc1> declined 48 points, and
Nasdaq 100 <NDc1> shed 14.50 points.
For the month, the Dow is down more 6 percent, the S&P 500
down more than 8 percent and Nasdaq down 10 percent.
Stores across America hope to ring in billions of dollars
in holiday sales beginning on the "Black Friday", the day after
Thanksgiving. But retailers fear a looming recession and
mounting job losses could cost them dearly during the period
that brings in up to 40 percent of annual sales.
The holiday weekend will test the strength of consumer
sentiment, a main driver of the U.S. economy, as the country
faces its worst financial crisis since the Great Depression.
Shares of clothing retailer Abercrombie and Fitch <ANF.N>
fell 3.6 percent before the bell.
"No question, Black Friday will be the story of the day:
there is some nervousness ahead of that as it is such an
important indicator about the American consumer," Kenny said.
In Europe, shares fell, led lower by energy and mining
stocks. In Asia, stocks rose for a sixth consecutive session on
bargain-hunting.
There is no U.S. economic data due on Friday nor any major
companies scheduled to report earnings.
Shares of Chesapeake Energy Corp <CHK.N> fell 14.4 percent
to $17.32 before the bell after the company announced a shelf
offering. The company filed to issue up to 50 million shares.
Technology shares could be under pressure after fresh signs
of a downturn in global chip demand emerged as
STMicroelectronics cut its fourth-quarter outlook. Industry
sources said two Taiwan companies are looking to slash costs.
Applied Materials <AMAT.O> slipped 2.4 percent to $9.50.
U.S. stocks climbed on Wednesday, as investors snapped up
tech stocks trading near their cheapest levels in five years,
and renewed hopes of a General Motors bailout helped investors
shrug off data depicting a worsening global economic downturn.
(Reporting by Kristina Cooke; Editing by Kenneth Barry)
