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updated: 11/23/2012 7:13 AM

U.S. stock futures tick higher on Black Friday

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NEW YORK -- U.S. stock futures are ticking higher on Black Friday, the unofficial start of the holiday shopping season.

Retail is a key chunk of the U.S. economy -- consumer spending accounts for about 70 percent of it. Shopping trends on Black Friday may signal consumers' appetite for spending over the next few weeks. November and December, which can account for as much as 40 percent of a retailer's annual revenue, are crucial for stores.

Dow Jones industrial futures are up 22 points to 12,822. The broader S&P futures are rising 2.1 points to 1290.40, while Nasdaq futures are up 8 points to 2,604.

Wall Street closes early on the Friday after Thanksgiving, at 1 p.m. EST.

European futures are mixed, while Asian futures closed higher.

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