Tags: wall | street | stocks | gains

Wall Street Gains in Post-Holiday Session

Friday, 29 Nov 2013 12:37 PM

  Comment  |
   Contact Us  |
|  A   A  
  Copy Shortlink
U.S. stocks rose modestly on Friday, with investors wary of making big bets in a short post-holiday session, though the S&P 500 is set for its longest weekly winning streak in 10 years.

Volume was light, with slightly over 1.1 billion shares traded on all U.S. platforms, according to BATS exchange data, as many U.S. investors remained out following the Thanksgiving holiday. The U.S. stock market ended its regular session three hours early at 1 p.m., following an all-day closure on Thursday.
"It's just drifting up because at the moment, the path of least resistance is up. There is no news that is going to push it lower," said Ken Polcari, director of the NYSE floor division at O'Neil Securities in New York.
"There is nothing negative out there for anyone to take anything off the table."
Retail stocks were in the spotlight as the holiday shopping season gets under way. Many stores opened on Thanksgiving for the first time ever this year, but shoppers appeared to be making careful purchases.
Equities have rallied in recent weeks on the back of expectations for continued stimulus from the Federal Reserve. The Dow and the S&P 500 closed at record highs on Wednesday while the Nasdaq ended at a 13-year high.
Investors will focus on retail stocks in an attempt to get an early read on the strength of the holiday shopping season. "Black Friday" typically marks the unofficial start of the holiday shopping season, but many stores opened on Thursday and offered steep discounts.
The S&P retail index .SPXRT rose 0.4 percent. The Dow Jones industrial average .DJI rose 46.77 points or 0.29 percent, to 16,144.10. The S&P 500 .SPX gained 4.92 points or 0.27 percent, to 1,812.15. The Nasdaq Composite .IXIC added 22.418 points or 0.55 percent, to 4,067.168.

© Scripps Howard News Service

  Comment  |
   Contact Us  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Retype Email:
Zip Code:
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Illinois Republicans Call for Immigration Reform

Wednesday, 23 Apr 2014 06:45 AM

Two Republican lawmakers from Illinois, Reps. Adam Kinzinger and Aaron Schock, have come out in support of immigration r . . .

Rand Paul Debates Issues - and 2016 - With Obama Ally Axelrod

Wednesday, 23 Apr 2014 06:26 AM

Rand Paul came to Chicago yesterday and did something a Republican thinking about running for president typically wouldn . . .

Texas AG to Feds: 'Come And Take' Disputed Land

Tuesday, 22 Apr 2014 23:11 PM

Texas Attorney General Greg Abbott has a message for the Bureau of Land Management about disputed land along the Oklahom . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved