U.S. stocks were rising in early trading on Black Friday, the final session of what’s been a stellar month for the market.
The Dow Jones Industrial Average rose 156 points, or 0.4%. The benchmark S&P 500 climbed 0.3%, and the tech-heavy Nasdaq Composite was up 0.4%. Volume was well below the 65-day moving average, with many traders likely opting to extend their Thanksgiving break.
This November has been momentous for investors: Donald Trump’s win in the U.S. election put the market in a euphoric mood, and data highlighting the strength of the U.S. economy has powered stocks to further gains. All three U.S. blue-chip indexes have hit record highs, with the Dow on pace for its best month in more than two years.
Investors were also going shopping for U.S. Treasuries on Black Friday. Yields on 10-year notes were down about 7 basis points to 4.199%, and yields on 2-year notes were down about 5 basis points to 4.192% ahead of the opening bell.
While it’s the biggest shopping day of the year, markets are set to close early at 1 p.m. Eastern Time. The shortened session means that trading “should be quite thin and volumes low,” Trade Nation analyst David Morrison said.
“Despite this, investor sentiment remains positive as far as equities are concerned, and the ongoing pullback in bond yields is providing a welcome tailwind,” Morrison added.