S&P 500, DJIA Hit Record Highs on Black Friday
$DIA, $SPY, $QQQ, $VXX
The S&P 500 and the DJIA marked record highs on Black Friday, helped by gains in consumer stocks at the start of the month long Holiday shopping season.
Friday’s action has the indexes up 3 day’s running this week.
The small cap Russell 2000 also hit a record intra-day high on a day when trading volumes were relatively thin as the market closee at 1:00p EST.
The S&P 500 consumer staples index rose 0.7%, giving the biggest boost to the broader index. That was followed by the consumer discretionary sector, which gained 0.3%.
The Dow Jones US retailers index was up 0.34%.
Amazon (NASDAQ:AMZN) gave the biggest boost to the S&P 500 and the NAS Comp.
Since the US Presidential election, the 3 main US stock market indexes have hit all-time highs and closed at record levels multiple times in the past few days, most recently Friday, when industrials boosted the Dow and S&P to record-high closes.
The Trump’s stock market rally continues as the indices drove higher Friday, and the focus now shifts to holiday sales
The Holiday shopping season is crucial for retailer as it accounts for as much as 40% of their annual sales.
The National Retail Federation (NRF) which has been overly optimistic with projections in the past, expects Holiday sales to grow 3.6% this year to $655.8-B.
Online spending surged almost 14% to top $1-B by Thanksgiving evening, according to Adobe Digital Index.
Black Friday, the US major stock market indexes finished at: DJIA +68.96 at 19152.14, NAS Comp +18.24 at 5398.92, S&P 500 +8.63 at 2213.35
Volume: Trade was light with just 699.4-M/shares exchanged on the NYSE
- Russell 2000 +13.1% YTD
- DJIA +9.9% YTD
- S&P 500 +8.3% YTD
- NAS Comp +7.8% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Bullish (0.36)||Bullish (0.33)||Bullish (0.40)||Bullish (0.36)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Bullish (0.26)||Neutral (0.12)||Very Bullish (0.51)||Neutral (0.16)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Neutral (0.24)||Bullish (0.31)||Neutral (0.19)||Neutral (0.22)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.35)||Bearish (-0.35)||Bearish (-0.35)||Bearish (-0.33)|
Have a terrific weekend.