Brendan McDiarmid | reuters
The tech-heavy index rose 0.2%, as S&P 500, Dow Jones Industrial Average Gained 168 points or 0.4%.
The disruption could cause even more volatility, as Wall Street returns from the Thanksgiving holiday for a short trading session on Friday. Trading volume the day after Thanksgiving is historically well below average, which means the upside – and downside – may be more extreme.
a weak november
Friday is also the last trading day of November. The major averages have been hit by a decline in tech stocks this month, as doubts loom over the future profitability of AI companies.
Yet some investors hope this month’s decline will mean a year-end rally for the major averages, as they step in to buy stocks that have been unfairly penalized at more attractive valuations.
The Nasdaq fell nearly 2% on the month, on track to end seven months ago. The S&P 500 was just short of pace to break six consecutive months of gains. Meanwhile, the Dow was slightly higher on the month.
That said, stocks are on pace to complete a winning week, following the change in tech names. The Dow is up nearly 3% year to date, while the S&P 500 and Nasdaq Composite are up more than 3% and more than 4%, respectively, over the weekly period.
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