This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

[video] Market Hustle: Spend, Spend, Send, Black Friday Pushes Futures Higher

NEW YORK (TheStreet) -- U.S. stock futures were eyeing gains Friday as trading resumes for an abbreviated session following the Thanksgiving holiday.

    • S&P 500 futures were up 3.5 points, or 2.12 points above fair value, to 1,807.75. The benchmark index has logged a year-to-date gain of 26.7%. 
  • Futures for the Dow Jones Industrial Average were higher by 39 points, or 33.67 points above fair value, to 16,113 after the blue-chip index rose to a record 16,097.33.
  • Futures for Nasdaq were gaining 13.5 points, or 14.47 points above fair value, to 3,482 as Apple increased 0.77% to $550.22 on a Kantar Worldpanel ComTech report saying that 76% of all smartphones sold in Japan last month were from Apple.
The economic and corporate calendars are sparse Friday as the U.S. stock market ends trading at 1 p.m. New York time, and the bond market closes at 2 p.m. "Black Friday," with its usual mix of high-expectations and anxieties, kicks off the holiday shopping period amid a stronger-than-expected rise in November consumer sentiment, according to the Thomson Reuters/University of Michigan report published Wednesday.
  • Jan Hatzius, Goldman Sachs' chief economist in New York, noted in his daily commentary, that "U.S. economic growth is likely to accelerate in 2014, as the fiscal drag diminishes but the positive impulse from the private sector remains sizable. Even if inflation stays low, as we expect, stronger growth is likely to persuade Fed officials to taper their QE program."
Overseas markets were mixed.
  • The Nikkei 225 in Japan fell 0.41% to 15,661.87, falling from a six-year high on a raft of profit-taking.
  • The Hong Kong Hang Seng increased 0.39% to its highest close since April 27, 2011 at 23,881.29, lifted by the anticipation of sweeping policy reforms in China.

-- Written by Andrea Tse

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $132.59 1.80%
FB $82.18 0.80%
GOOG $556.76 -1.50%
TSLA $236.79 8.40%
YHOO $44.66 0.31%

Markets

DOW 18,118.71 +38.57 0.21%
S&P 500 2,121.25 +3.56 0.17%
NASDAQ 5,100.1650 +8.08 0.16%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs