November 29, 2024November 29, 2024

Dow Jones Today: Stock Futures Inch Higher as Market on Pace to Close Out a Winning Month

Posted By: keaton

view original post

Stocks rose Friday morning, led by gains for shares of Nvidia and other chipmakers, as the equities market rebounds from a pre-Thanksgiving downturn.

The Dow Jones Industrial Average was up 0.3% about 45 minutes after the opening bell, while the S&P 500 and Nasdaq Composite added 0.5% and 0.7%, respectively. Stocks slid heading into the holiday, with the S&P 500 snapping a seven-session winning streak on Wednesday as investors digested a flurry of earnings reports and economic data. Major indexes remain on track to wrap up November with solid gains for the month thanks to a post-election rally that has sent stocks to a series of record highs.

There are no noteworthy corporate or economic releases scheduled for Friday, which is a shortened trading day for both the stock and bond markets. Investors will, however, be keeping a close eye on news about how active consumers are on Black Friday, one of the busiest shopping days of the year.

Large-cap technology stocks were mixed in early trading. AI chipmaker Nvidia (NVDA) was leading the gainers, rising more than 3%, while Apple (AAPL), Amazon (AMZN), Meta Platforms (META) and Tesla (TSLA) also advanced. Shares of Microsoft (MSFT) and Alphabet (GOOGL) fell slightly.

Shares of chipmakers and their suppliers were among the top gainers Friday morning. The PHLX Semiconductor Index was up more than 2%, as KLA Corp. (KLAC), Qualcomm (QCOM), Marvell Technology (MRVL), Applied Materials (AMAT) and Arm Holdings (ARM) all moved higher.

Bitcoin was trading at around $98,600, up from overnight lows below $96,000. Bitcoin has gained nearly 40% since the U.S. election amid investor optimism that a Trump White House and cryptocurrency-friendly Congress will promote policies that benefit the asset class.

Gold futures were up about 0.5% at around $2,680 an ounce, while Brent crude oil futures were little changed.

The yield on 10-year Treasurys, which is correlated with investors’ expectations about where interest rates are headed, was at 4.20%, down from 4.24% on Wednesday and trading at its lowest levels of the month.

thewealthiestinvestor.com is not an investment advisor and is not registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory Authority. Further, owners, employees, agents or representatives of thewealthiestinvestor.com are not acting as investment advisors and might not be registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory.

The sender of this email makes no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended in this email, and makes no representations or warranties concerning said company or entity’s compliance with applicable laws and regulations, including, but not limited to, regulations promulgated by the SEC or the CFTC. The sender of this email may receive a portion of the proceeds from the sale of any products or services offered by a company or entity mentioned or recommended in this email. The recipient of this email assumes responsibility for conducting its own due diligence on the aforementioned company or entity and assumes full responsibility, and releases the sender from liability, for any purchase or order made from any company or entity mentioned or recommended in this email.

The content on any of thewealthiestinvestor.com websites, products or communication is for educational purposes only. Nothing in its products, services, or communications shall be construed as a solicitation and/or recommendation to buy or sell a security. Trading stocks, options and other securities involves risk. The risk of loss in trading securities can be substantial. The risk involved with trading stocks, options and other securities is not suitable for all investors. Prior to buying or selling an option, an investor must evaluate his/her own personal financial situation and consider all relevant risk factors. See: Characteristics and Risks of Standardized Options.

The information presented in this site is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. Nothing in our research constitutes legal, accounting or tax advice or individually tailored investment advice. Our research is prepared for general circulation and has been prepared without regard to the individual financial circumstances and objectives of persons who receive or obtain access to it. Our research is based on sources that we believe to be reliable. However, we do not make any representation or warranty, expressed or implied, as to the accuracy of our research, the completeness, or correctness or make any guarantee or other promise as to any results that may be obtained from using our research. To the maximum extent permitted by law, neither we, any of our affiliates, nor any other person, shall have any liability whatsoever to any person for any loss or expense, whether direct, indirect, consequential, incidental or otherwise, arising from or relating in any way to any use of or reliance on our research or the information contained therein. Some discussions contain forward looking statements which are based on current expectations and differences can be expected. All of our research, including the estimates, opinions and information contained therein, reflects our judgment as of the publication or other dissemination date of the research and is subject to change without notice. Further, we expressly disclaim any responsibility to update such research. Investing involves substantial risk. Past performance is not a guarantee of future results, and a loss of original capital may occur. No one receiving or accessing our research should make any investment decision without first consulting his or her own personal financial advisor and conducting his or her own research and due diligence, including carefully reviewing any applicable prospectuses, press releases, reports and other public filings of the issuer of any securities being considered. None of the information presented should be construed as an offer to sell or buy any particular security. As always, use your best judgment when investing.

Disclaimer: Past performance is no guarantee of future performance. This product is for educational purposes only. Practical application of the products herein are at your own risk and thewealthiestinvestor.com, its partners, representatives and employees assume no responsibility or liability for any use or mis-use of the product. Please contact your financial advisor for specific financial advice tailored to your personal circumstances. Any trades shown are hypothetical example and do not represent actual trades. Actual results may differ. Nothing here in constitutes a recommendation respecting the particular security illustrated.