US stocks mixed; Black Friday sales in focus in shortened trading day
Investing.com — U.S. stocks traded in a mixed fashion Friday in thin trading, at the start of a shortened trading day.
By 09:30 ET (14:30 GMT), the Dow Jones Industrial Average rose 75 points, or 0.2%, the S&P 500 traded largely flat, while the NASDAQ Composite dropped 10 points, or 0.1%.
These major averages are all on pace for hefty monthly gains, as economic data has tended to fuel optimism that the Federal Reserve's campaign of interest rate hikes may have peaked.
The Nasdaq has rallied 11% so far in November. The DJIA has advanced nearly 7%, and the S&P 500 is up more than 8%.
The news that Israel and Hamas are set to start a four-day truce today, with the release of a first group of 13 Israeli women and child hostages expected later in the day, has also helped sentiment.
There’s little on the economic data slate Friday, although the November manufacturing and services purchasing managers' indices from financial information group S&P Global will attract some attention.
These indices are often seen as proxies for economic activity in the world's largest economy, with the manufacturing PMI expected to have dipped to 49.8, down from 50.0 in October, the mark that separates contraction from expansion. The services PMI is seen falling to 50.4, down from 50.6 the prior month.
The equivalent data from the eurozone, released earlier Friday, suggested the bloc's economy will contract again this quarter as consumers continue to rein in spending, likely resulting in a mild recession in one the U.S.’s major trading partners as the year ends.
The retail sector will be in the spotlight during the session, as today is Black Friday, the annual sales spree that typically kicks the crucial holiday shopping season into full gear.
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