Wall Street rises this Friday in a shorter trading day, with the focus on President-elect Donald Trump’s tariff agenda and the crucial US shopping season. Black Friday for retailers.
The Dow Jones Industrial Average (^DJI) leads the rise and climbs around 0.3%, while the S&P 500 (^GSPC) gains 0.2%. The tech-focused Nasdaq Composite (^IXIC) also rose about 0.2%, after all three indexes retreated from their all-time highs on Wednesday.
U.S. stocks rose slightly on Friday to start a shorter trading day, with the focus on President-elect Donald Trump’s tariff agenda and the crucial Black Friday shopping season for retailers.
It’s a green day for US stocks. lThe rise is led by the technology sector with stocks such as Nvidia (+2.3%), Tesla (+2%) and Qualcom climbing almost 3%.
The last trading day of November shows thate major indices are on track for monthly gains, despite a pullback in the rally fueled by Trump’s decisive election victory. The S&P 500 remains close to its latest all-time high and will record its best month since February if the indicated 5% increase is maintained.
The Wall Street session
However, a quiet session is expected on Wall Street as markets reopen after the Thanksgiving break, with Friday’s trading day scheduled to end early at 1 pm ET. Investors continue to assess the potential fallout — and inflation impact — of the president-elect’s promise to impose new high tariffs on major U.S. trading partners such as Mexico, Canada and China.
Hopes for relief on that plan got a boost when Mexican President Claudia Sheinbaum said she was confident a trade war could be avoided after a phone call with Trump.
On the other hand, on the trade front, optimism grew that US restrictions on Chinese chips will be less strict than expected. Shares of ASML (ASML) and other European semiconductor-related companies rose after Bloomberg reported Thursday that the Biden administration is considering new restrictions that would fall short of previous proposals.
Meanwhile, investors are closely monitoring Black Friday sales, the unofficial start of the holiday shopping season. Attention is on how successful retailers will be in energizing Americans to shop in stores, as consumers, with tight finances, have been cautious about discretionary spending.
Analysts predict a solid season, although not as robust as last year. Shares of Target (TGT), Walmart (WMT), and Best Buy (BBY) rose slightly in the premarket.
Source: Ambito
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