On Friday, U.S. stocks wrapped up the week on a high note, with all three major indices bouncing back strongly as we approach the Thanksgiving holiday.
The Dow Jones Industrial Average had a remarkable day, leaping up by 426.16 points, which translates to a solid 1% gain. It closed at a new all-time high of 44,296.51. Meanwhile, the S&P 500 saw an uplift of 20.63 points, rising by 0.3% to settle at 5,969.34. The Nasdaq Composite also inched upwards, adding 31.23 points for a 0.2% increase, finishing the day at 19,003.65.
Looking at the week’s overall performance, the Dow surged by 2%, while both the S&P 500 and Nasdaq marked gains of 1.7%, as per the data from Dow Jones Market Data. This marks a welcome reversal from the declines experienced in the previous week.
As we glance towards the upcoming week, the U.S. stock market will take a break on Thursday in observance of Thanksgiving. However, before we get to the festivities, traders are eagerly anticipating the latest reading on U.S. inflation. The personal-consumption-expenditures price index report, which is closely watched, is set to be released on Wednesday, November 27.
