THE AMERICA ONE NEWS
Jun 2, 2025  |  
0
 | Remer,MN
Sponsor:  QWIKET 
Sponsor:  QWIKET 
Sponsor:  QWIKET: Elevate your fantasy game! Interactive Sports Knowledge.
Sponsor:  QWIKET: Elevate your fantasy game! Interactive Sports Knowledge and Reasoning Support for Fantasy Sports and Betting Enthusiasts.
back  
topic
NY Post
New York Post
24 Nov 2023


NextImg:Stocks headed for 4th straight winning week as investors hope for Black Friday cheer

Stocks were subdued on Friday in a shortened trading session for Thanksgiving, while investors focused on retailers to assess consumer health as Black Friday sales kicked off amid signs of slowing economic conditions.

The Dow Jones Industrial Average advanced 109 points, or 0.3%, to 35,383, the Nasdaq slipped 0.2% and the S&P 500 was flat.

The main three US stock indexes were still set for their fourth consecutive weekly gains, driven by hopes that the Federal Reserve is done hiking interest rates and signs the US economy remains resilient.

The benchmark S&P 500 is about 1% away from setting a new high for the year.

Focus will be on retailers preparing for what they hope will be yet another record-setting global shopping spree on Black Friday, which usually marks the unofficial start of the Christmas shopping season.

“The drop in oil prices and the decline in inflation both increase purchasing power for consumers, which bodes very well for retailers,” said Greg Bassuk, chief executive officer of AXS Investments in New York.

Macy’s Santa Claus appears on the NYSE trading floor on Wednesday.
REUTERS

“Greater consumer spending and a strong earning season is going to be a strong foundation to reverse some of that retailer cautionary sentiment that we heard in the recent earnings report.”

US stock markets were shut on Thursday for the Thanksgiving holiday, and Friday’s session ends at 1 p.m. ET. The market ended higher on Wednesday after reports on jobless claims, durable goods, and consumer sentiment seemed to suggest the economy is easing but may stay strong enough to avoid a recession.

Traders digested the S&P Global’s flash US Composite Purchasing Managers Index (PMI), which showed factory and services sector activity held steady in November.

New York Stock Exchange trader
Focus will be on retailers preparing for what they hope will be yet another record-setting global shopping spree on Black Friday
REUTERS

Among single stocks, Nvidia fell 1.1% after Reuters reported the chipmaker told customers in China it was delaying the launch of a new artificial intelligence chip to comply with US export rules until the first quarter of next year.

iRobot rallied 30.1% following a report that Amazon is set to win unconditional EU antitrust approval for its $1.4 billion acquisition of the robot vacuum maker.

Vista Outdoor added 4.8% after Czech gunmaker Colt CZ Group made a nearly $1.7 billion cash-and-stock merger offer to the sporting and outdoor goods group on Thursday.

US-listed shares of Chinese EV maker Xpeng rose 4.9% after Volkswagen said it will develop a new platform for entry-level electric vehicles in China.