S&P 500 Futures Close Higher for the Week

U.S. stock futures edged higher on Friday ahead of a shortened trading session.

Futures on the Dow Jones Industrial Average rose 40 points, or 0.12%, on Wednesday. S&P 500 futures added 0.07% and Nasdaq 100 futures slipped 0.17%, weighed down by shares of Activision Blizzard, which fell in premarket trading on news that the FTC could block Microsoft from taking over the gaming company.

Wall Street is on track to end the week on a positive note, after the Federal Reserve's latest meeting minutes bolstered expectations that monetary policy tightening may slow down.

The minutes from the Fed's November meeting showed that the central bank is seeing progress in its fight against high inflation and is looking to slow the pace of rate hikes. This is good news for those who are worried about the potential for rising interest rates to hurt the economy.

The minutes from the meeting stated that a substantial majority of participants judged that a slowing in the pace of increase would likely soon be appropriate.

Stocks rose on Wednesday, building on the previous day's gains and extending a modest rally that began earlier in the week. Trading was choppy, however, and volumes remained relatively light.

Markets will be closed on Thursday for the Thanksgiving holiday and will reopen at 1 p.m. ET on Friday.

The following stocks are making the biggest moves in premarket trading on Friday.

Tesla (TSLA) shares rose 2% in premarket trading on Tuesday after the company announced that its Full Self Driving Beta software is now available to all Tesla owners in North America. The company is still awaiting regulatory approval for cars to be driven without human supervision.

Shares of Manchester United (MANU) jumped another 10.8% on Thursday, following two double-digit rallies earlier in the week. The soccer team's stock has been on the rise since reports emerged earlier this week that the team is considering strategic options, including a possible sale.

Amazon workers in the U.S. and around 30 other countries are planning to protest on Black Friday to demand better pay from the online retailer.

The Make Amazon Pay initiative is planning to target the retail giant during one of the busiest shopping periods of the year. The campaign is hoping to pressure Amazon to change its business practices and pay its workers a livable wage.

Amazon's stock price was relatively unchanged in early trading on Friday.

Activision Blizzard shares fell 3.7% on Friday after news that Microsoft's $69 billion takeover of the company could face antitrust scrutiny.

According to Politico, the Federal Trade Commission is likely to file a lawsuit blocking the acquisition of a major company. The news outlet cites people familiar with the matter who say that the FTC is concerned about the potential for the company to monopolize the market.

European markets were muted on Friday, as the U.S. Federal Reserve’s latest meeting minutes added to expectations that monetary policy tightening may slow down. This was a disappointing end to an otherwise upbeat week for European markets.

The Stoxx 600 index dipped below the flatline in early trading, with basic resources and retail shares falling 0.7%. Most sectors and major bourses were trading in negative territory.

Next year, global economic conditions are expected to change, which could cause different markets and sectors to underperform, according to the chief strategist of UBS Investment Bank.

Bhanu Baweja told CNBC's "Squawk Box Europe" Wednesday that the expected recession is "an inch deep but a mile wide." He said that global growth is at 2% and that is not priced into stocks. He also predicted which sectors he thinks will do better than others next year.

Patrick Armstrong, chief investment officer at Plurimi Wealth, believes that a margin squeeze is the biggest risk for equities. However, he thinks that some stocks could still perform well despite this trend. He added that the best sectors and stocks are those with defendable margins or that are creating margin squeeze elsewhere.