US markets closed higher, with both the Nasdaq and the S&P 500 hitting record highs in a shortened trading session.
And as expected, retailers delivered on Black Friday, with most stocks up, albeit off the day's highs.
The Dow Jones Industrial Average was up 0.14%, up 31.81 points at 23,564.69, off an earlier high of 23,599.
The S&P 500 index was up 0.21% at 2,602.81, led by the information technology sector. It closed above the 2,600 mark for the first time.
The Nasdaq on the other hand, was also up 0.32% at 6,889.00, slightly off its early high of 6,890.
Wal-Mart (NYSE:WMT) rose 0.01% at US$96.65 while Macy's Inc. (NYSE:M) closed flat at US$21.06, off an earlier high of US$21.65.
Amazon.com Inc (NASDAQ:AMZN) was up 0.07% at US$1,183.87, while JC Penney & Co (NYSE:JCP) rose 1.31% at US$3.25.
OPEN
US stocks have opened slightly higher, with indications that it may be heading for another record high in a shortened trading session.
With investors focus on retailers as Black Friday shopping kicks off in a big way, all the indices were already setting intraday records.
The Dow Jones Industrial Average was up 0.17%, up 40.41 points at 23,566.05, while the S&P 500 index was up 0.19% at 2,602.03.
The Nasdaq on the other hand, was also up 0.13% at 6,876.10, setting an intraday record at 6,879.25.
As expected, retailers were leading the way, buoyed by pre-sales data that shoppers were doing their bit through online purchases.
Wal-Mart (NYSE:WMT) rose 0.30% at US$96.96 while Macy's Inc. (NYSE:M) was also up 3.22% at US$21.34.
Amazon.com Inc (NASDAQ:AMZN) was up 1.51% at US$1,172.02, while JC Penney & Co (NYSE:JCP) rose 1.54% at US$3.29.
PREMARKET
The US stock futures are pointing to a higher open on all the main indices, which will see a shortened trading session due to Thanksgiving. Retailers are likely to take centre-stage with Black Friday shopping kicking off.
The Dow Jones futures was pointing to a 0.29% gain, up 67 at 23,545.0 while NASDAQ also looked like it is heading for a positive slant, with its futures up 0.11%, up 7.00 at 6,395.75. The S&P 500 futures was up 0.26%, up 6.75 at 2,600.75.
With only a half day trading pencilled in after the Thanksgiving holiday on Thursday, investors are likely to focus on retailers and how the Black Friday shopping is getting on.
Feeding time at the zoo earlier today...
Absolutely unbelievable that people can behave like this.#BlackFriday pic.twitter.com/G6BBnjhuQr
— bigred (@ohannah69) November 24, 2017
With Adobe Analytics data pointing to a US$1.2bn spend by online shoppers yesterday, it is no surprise that the bigger retailers are likely to turn positive. Analysts say the pre-sale data released so far, indicate an 18% hike in November spending from last year.
Amazon.com Inc (NASDAQ:AMZN) is up 0.48% premarket, Target Corp (NYSE:TGT) is up 0.42% while Macy's Inc (NYSE:M) is up 0.73% and Wal-Mart Stores Inc (NYSE:WMT), gained 0.43%.