A professional trader works on the trading floor of the New York Stock Exchange (NYSE).
Brendan McDermid | Reuters
Stocks edged higher on Friday as the trading day shortened, capping a strong month for stocks.
this Dow Jones Industrial Average Up 155 points, or 0.3%. this S&P 500 Index and Nasdaq Index Add 0.2% and 0.1% respectively.
Part of the rally came from chip stocks, which Bloomberg reports Biden administration considering additional barriers to semiconductor equipment sales to China Not that strong As expected. Applied Materials and Pan-forest research Each rose more than 2%, while NVIDIA An increase of more than 1%. iShares Semiconductor ETF (SOXX) Add more than 1%.
The moves come as traders look to a winning week and month to end. November trading focused on the post-election rally that followed President-elect Donald Trump’s victory.
The Dow is up more than 1% so far this week, bringing November’s gains to more than 7%. This was the Dow’s best month since November 2023. Both are expected to rise more than 5% by the penultimate month of 2024.
Year-to-date Dow Chemical
Mainly small stocks Russell 2000 The group outperformed the broader market in November as investors saw the group benefiting from Trump’s potential tax cuts. With gains of more than 1% this week, the Russell 2000 has soared more than 11% this month.
Stocks were dark Thursday and closed at 1 p.m. ET on Friday in observance of the Thanksgiving holiday. No economic data or noteworthy corporate earnings reports are expected on Friday. Trading is expected to be light.
