The stock market opened higher on Friday, as the S&P 500 continued its rapid recovery and struggled to recover from a volatile and eventful November.
In a short half-day period on Friday, the S&P 500 was up 0.2% shortly after the market opened. The Dow Jones Industrial Average was 0.2% higher and the Nasdaq Composite rose 0.4%.
The S&P 500 is now down just 0.1% in November, with only a few hours of trading left in the month. This is quite a change from just a week ago. The index is on a four-day winning streak, having climbed more than 4% over the period – its best four-day gain since May when the US and China reduced tariffs on each other’s goods.
The Dow is also close to flat for the month, while the Nasdaq is poised to snap a seven-month winning streak after falling about 1.7% in November.
“Despite this week’s rebound, November has still been a challenging month. Elevated valuations, particularly at the forefront of the technology and Artificial General Intelligence (AGI) trade, have dampened enthusiasm,” Trade Nation analyst David Morrison said in a note on Friday.
Black Friday trading got off to a choppy start after CME Group shut down trading in the futures and options markets following a data-center cooling issue. The outage began in early Asian trading and was eventually resolved around 8:30 a.m. Eastern Time.
But that only temporarily halted the holiday rally. The Dow and S&P 500 are on track for their best Thanksgiving week since 2012 and the Nasdaq since 2008. That’s a lot to be grateful for.
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