Business Lookahead: Under pressure

STORY: From investor unease over an escalation in Ukraine to sizing up Black Friday buying, these are the stories to watch in business and finance in the coming week.

:: ‘Trump trades’

“Trump trades” will likely continue dominating market action.

Anyone with crypto and the dollar on their markets’ bingo card would still be in the money, even if momentum softens. Clean energy has been the biggest loser.

With about 60 days to go before U.S. President-elect Donald Trump takes office, there’s still room for surprises.

And resistance to Trump trades could grow – from a realization that stocks are expensive or from a geopolitical reality check.

:: Foreign affairs

G7 foreign ministers will meet next week as Russia’s invasion of Ukraine risks a major escalation.

Markets will struggle to assess the significance of fresh G7 communiques until Trump’s policy on Ukraine becomes clearer.

He regularly clashed with G7 allies during his first presidency and has pledged to end the war.

Safe-haven bonds have rallied in a sign of investor unease.

:: Bargain hunting

Investors will be watching to see how inflation weighs on buying habits in the U.S. as Thanksgiving week ends with Black Friday.

The day traditionally marks the start of the holiday shopping period.

In one recent worrisome sign, Target shares tumbled after the retailer forecast holiday-quarter comparable sales and profit below estimates.

Consumer spending accounts for more than two-thirds of U.S. economic activity.

:: Rush hour

It’s set to be a jam-packed Friday for the eurozone.

Inflation data kicks things off.

Next up, S&P will review France’s credit rating. Uncertainty there remains high as Michel Barnier’s government seeks to pass a belt-tightening budget.

And finally, Ireland heads to the polls with Trump’s presidency looming over ambitious spending plans.