1 day Ago By Akanksha Bakshi
On Friday, November 29, U.S. markets closed higher, with the S&P 500 and Dow Jones reaching record highs during a shortened Black Friday session.
The rally was fueled by strong performances in the technology and retail sectors, with gains in major tech stocks and a rebound in chip stocks driving momentum. Retail shares climbed as the holiday shopping season kicked off, supported by robust consumer spending projections. Investors weighed optimism over strong sales and pro-business policies against concerns about inflation and the Federal Reserve’s anticipated rate cut in December.
S&P 500 sectors closed higher, led by technology, materials, and consumer discretionary stocks, while real estate and utilities lagged, ending the session lower. The Dow Jones Industrial Average was up 0.42% and closed at 44,910.
65, the S&P 500 gained 0.56% to 6,032.40, and the Nasdaq Composite rose 0.
83% to finish at 19,218.17. Asia Markets Today On Monday, Japan’s Nikkei 225 gained 0.
92% and ended the session at 38,500.50, led by gains in the Gas & Water, Banking and Retail sectors. Australia’s S&P/ASX 200 rose 0.
14% and ended the day at 8,447.90, led by gains in the IT, Consumer Discretionary and Energy sectors. India’s Nifty 50 rose 0.
59% to 24,272.75, and the Nifty 500 gained 0.66%, closing at 22,835.
65. The gains were led by gains in the Real Estate, Consumer Durables, and Metals sectors. China’s Shanghai Composite gained 1.
13% to close at 3,363.98, and the Shenzhen CSI 300 rose 0.79%, finishing the day at 3,947.
63. Hong Kong’s Hang Seng was up 0.65% and closed the session at 19,550.
29. Eurozone at 05:30 AM ET The European STOXX 50 index was up 0.06%.
Germany’s DAX rose 0.58%. France’s CAC declined 0.
34%. FTSE 100 index traded higher by 0.04%.
Commodities at 05:30 AM ET Crude Oil WTI was trading higher by 0.90% at $68.63/bbl, and Brent was up 0.
90% at $72.49/bbl. Oil prices rose driven by strong Chinese factory activity and escalating Middle East tensions.
Natural Gas slipped 5.98% to $3.162.
Gold was trading lower by 0.81% at $2,659.16, Silver was down 1.
20% to $30.735, and Copper slid 0.42% to $4.
1227. U.S.
Futures at 05:30 AM ET Dow futures were down 0.13%, S&P 500 futures were down 0.19%, and Nasdaq 100 futures slid 0.
19%. U.S.
futures dipped as December begins, with jobs data and Fed comments in focus. Stellantis shares plunged after CEO Carlos Tavares resigned. Forex at 05:30 AM ET The U.
S. dollar index rose 0.54% to 106.
32, the USD/JPY rose 0.40% to 150.35, and the USD/AUD gained 0.
33% to 1.5406. The U.
S. dollar gained strength with the dollar index rising, driven by resilient U.S.
economic data, political uncertainty in France, and President-elect Donald Trump’s tariff threats. Photo by Pavel Bobrovskiy via Shutterstock © 2024 Benzinga.com.
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