Major Indexes Rise on Black Friday; Amazon, Alphabet Lead Movers
The stock market showed positive momentum on Black Friday, with major indexes making notable gains. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all opened higher, signaling a strong recovery.
Market Overview
- S&P 500: Up 0.2%
- Dow Jones: Increased by 0.2%
- Nasdaq Composite: Rose by 0.4%
The S&P 500’s performance highlights a remarkable rebound, now down just 0.1% for November. This turnaround comes after a challenging month marked by fluctuations in the market.
Gains and Trends
In the last four days, the S&P 500 has climbed more than 4%. This is its best four-day gain since May 2023, reflecting a positive shift following tariff reductions between the U.S. and China. Meanwhile, the Dow is close to remaining flat for the month, while the Nasdaq is likely to end its seven-month winning streak, down approximately 1.7% in November.
Market Challenges
Despite the recent gains, analysts note that November has been difficult. Elevated valuations, especially in the technology sector and the Artificial General Intelligence (AGI) market, have dampened investor enthusiasm. Trade Nation analyst David Morrison mentioned these concerns in a recent report.
Black Friday Trading Impacts
Black Friday trading encountered some turbulence due to an outage at CME Group. A cooling issue at a data center halted trading on futures and options markets. This disruption started during early Asian trading hours and was resolved around 8:30 a.m. Eastern time.
Despite this hiccup, the holiday trading rally continued. Both the Dow and S&P 500 are on track for their best Thanksgiving week performances since 2012, while the Nasdaq aims for its best since 2008.
This upbeat momentum in the market provides a positive outlook moving forward, with investors hopeful for continued gains as the year draws to a close.
