Stocks closed mixed during a Black Friday short trading day that saw no action.
When the final bell rang on Friday, the S&P 500 was down 0.03%, the Dow was up 0.45% and the Nasdaq was down 0.52%.
The US stock market closed at 1:00 pm ET Friday; US financial markets were closed on Thursday for Thanksgiving.
Stocks closed higher on Wednesday, the last full trading session of the week, after minutes from the Fed’s latest meeting signaled a likely slowdown in rate hikes at the central bank’s December meeting.
The US did not release important economic data or earnings reports.
Energy markets remain a focus for investors, with WTI crude oil down about 1.5% after an earlier rise of nearly 3% early Friday, a recovery that followed Wednesday’s plunge in oil prices back to 2022 lows.
On overseas markets, stocks in Europe ended their sixth consecutive profitable week.
Investors also traded in the news that the People’s Bank of China will cut its reserve requirements for the second time this year to stimulate the economy.
After weakening earlier this week, the dollar posted a modest rally early in the trading session on Friday.
In company news, shares of Manchester United (MANU) rose 13% on Friday after rising 25% on Wednesday, as reports continue to emerge that the English football club may be sold by the Glazer family, which also owns the Tampa Bay Buccaneers. .
As investors in the US anticipate the end of November and the end of a challenging year for financial markets, Yahoo Finance’s Jared Blickre writes in Friday’s Morning Brief that history does suggest that bull markets could expect more positive times.
During the period that spans the Tuesday before Thanksgiving to the second trading day of the new year, the S&P 500 has been up 81% of the time since 1950. And in years when stocks rise during this period, the index adds 3.8%, average.
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