URGENT UPDATE: US stocks are climbing in a thin post-holiday trading session, with major indexes showing gains driven by a surge in retail and a rebound in tech stocks. The latest market movements are unfolding just after the Thanksgiving holiday, with the S&P 500 gaining 35.63 points, or 0.52 percent, to close at 6,848.24 points.
Following the holiday weekend, investor sentiment has been bolstered by growing expectations for a potential Federal Reserve rate cut next month. All major S&P 500 sectors reported gains on Friday, with the exception of healthcare. However, caution prevails as all three main US stock indexes are down for the month, reflecting concerns over inflated valuations in the AI and tech sectors.
“We’re witnessing a light volume post-holiday session with minimal activity,” stated Cole Smead, CEO of Smead Capital Management. “But the uncertainty surrounding the outcome of AI remains a significant factor.”
The Nasdaq Composite surged 150.31 points, or 0.65 percent, ending at 23,365.00, while the Dow Jones Industrial Average rose 279.11 points, or 0.59 percent, to finish at 47,705.31. Preliminary data indicates that futures trading faced temporary disruptions this morning due to a CME Group outage, which affected currencies, commodities, and equity contracts globally. The outage was attributed to a cooling issue at the company’s CyrusOne data centers.
“We’re fortunate today,” remarked Joe Saluzzi, partner and co-founder at Themis Trading. “It was a low-volume day, but the disruptions could have had a much larger impact.”
As the holiday shopping season kicks off with significant days ahead—including Black Friday and Cyber Monday—investors are closely monitoring retail performance. These crucial sales days are critical for big-box retailers and could further influence market trends.
Stay tuned for ongoing updates as this developing story unfolds. The combination of market recovery and holiday shopping momentum could significantly reshape investor strategies in the coming days.
