Black Friday on Wall Street: Markets operating on abbreviated schedule
Major U.S. stock exchanges, including the New York Stock Exchange...
Major U.S. stock exchanges, including the New York Stock Exchange and Nasdaq, are set to close equity trading at 1 p.m. Eastern Friday in an abbreviated session. Bond traders will also see an early finish, with trade group Sifma calling for a 2 p.m. close for fixed-income markets.
Thanksgiving week, unsurprisingly, is often characterized by light volume, which can make for choppier markets. Data going back to 1950 shows that despite the abbreviated trading, the S&P 500 SPX has seen an average move of plus or minus 1.5% during Thanksgiving week, not far off the average of 1.6% for all five-day trading periods, according to E-Trade from Morgan Stanley.
U.S. stocks have seen a robust rally so far in November, with the S&P 500 index exiting correction territory on Monday as it finished less than 1% away from its 2023 closing high set on July 31.
IEA: Global oil market faces potential shift in 2024
The International Energy Agency anticipates that the current oil market deficit will turn into a modest...
The International Energy Agency anticipates that the current oil market deficit will turn into a modest surplus next year even with potential extensions of OPEC+ production cuts. "Global oil stocks are at low levels, which means that you risk increased volatility if there are surprises on either the demand side or the supply side," said IEA Head of Oil Industry and Markets Division Toril Bosoni.
Benchmark U.S. crude oilfor January delivery fell 67 centsto $77.10 per barrel Wednesday. Brent crude for January delivery fell 49 cents to $81.96 per barrel.
Wholesale gasoline for December delivery was unchanged at $2.23 a gallon. December heating oilfell 3 cents to $2.89 a gallon. December natural gasrose 5 cents to $2.90 per 1,000 cubic feet.
Dow ends over 180 points higher as stocks score pre-Thanksgiving gains
Stocks ended higher Wednesday in the final, full trading session of the week, extending a strong November...
Stocks ended higher Wednesday in the final, full trading session of the week, extending a strong November rally that’s been accompanied by a pullback in Treasury yields and hopes for a so-called soft landing for the economy. U.S. markets are closed Thursday for Thanksgiving Day, followed by an abbreviated session Friday.The Dow Jones Industrial AverageDJIA rose around 185 points, or 0.5%, to close near 35,273, according to preliminary figures. The S&P 500SPX ended 0.4% higher near 4,557, while the Nasdaq CompositeCOMP advanced 0.5% to finish near 14,266.
Israel says no hostage release or pause in fighting before Friday
The temporary cease-fire paired with the release of hostages held in Gaza and Palestinian prisoners in...
The temporary cease-fire paired with the release of hostages held in Gaza and Palestinian prisoners in Israeli jails will likely not begin until Friday at the earliest, Israeli officials said on Wednesday night, as negotiators continued to hammer out details of an agreement between Israel and Hamas that would see a pause in fighting to allow for groups of hostages and Palestinian prisoners to be released.