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Stocks closed mixed on the holiday-shortened trading day

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Stocks ended mixed during an uneven, short Black Friday trading day.

When the closing bell rang on Friday, the S&P 500 was 0.03% lower, the Dow 0.45% higher and the Nasdaq 0.52% lower.

The US stock market closed at 1 p.m. ET on Friday; US financial markets were closed on Thursday for Thanksgiving.

Stocks ended the week’s last full trading session with gains on Wednesday after minutes from the Fed’s latest meeting hinted at a potential slowdown in the pace of rate hikes at the central bank’s meeting in December.

US Federal Reserve Chairman Jerome Powell attends a press conference on November 2, 2022 in Washington, DC, United States. The U.S. Federal Reserve made its fourth consecutive three-quarter point rate hike on Wednesday amid its worst inflation in four. decade. (Photo Liu Jie/Xinhua via Getty Images)

No major economic data or earnings reports released in the US

Energy markets remained focused for investors, with WTI crude falling nearly 1.5% after rising nearly 3% early Friday, an uptick that could see oil prices return to 2022 lows after Wednesday’s plunge. Away.

In overseas markets, equities in Europe closed their sixth consecutive week of gains.

Investors also braced for overnight news that the People’s Bank of China would cut its reserve requirement for the second time this year in a bid to stimulate the economy.

After weakening earlier in the week, the dollar moved up slightly early in Friday’s trading session.

In company news, shares of Manchester United (MANU) rose 13% on Friday after gaining 25% on Wednesday as reports continue to surface of a possible sale of the English football club by the Glazer family, which owns the Tampa Bay Buccaneers . is also the owner. ,

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As investors in the US look forward to late November and the end of a challenging year for financial markets, Yahoo Finance’s Jared Blickrey writes in Friday’s Morning Brief that history suggests more positive times are ahead of a market rally. Could

From the Tuesday before Thanksgiving to the second trading day of the new year, the S&P 500 is up 81% since 1950.

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Source: news.google.com

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