The U.S. stock market closed mixed on Friday with low trading volume following the Thanksgiving holiday.
The Dow Jones Industrial Average (^DJI) rose about 0.3%, or more than 100 points, while the benchmark S&P 500 (^GSPC) remained flat. The NASDAQ Composite Index (^IXIC), centered on technology stocks, performed poorly, falling about 0.1%.
All three major indexes closed higher for the fourth straight week, making November the Dow’s best month since October 2022. The Nasdaq and S&P 500 are headed for their best month since July 2022.
Bond yields rose with the 10-year Treasury note (^TNX) up about 6 basis points to trade near 4.48%.
As Black Friday kicks off the holiday shopping season, retailers have outperformed the overall market. S&P Retail (XRT) closed up about 0.6% as companies such as Home Depot (HD) and Best Buy (BBY) showed gains.
Large chains such as Target (TGT) and Walmart (WMT) also closed higher despite warnings that smaller consumers were spending cautiously. As shoppers become more selective, retailers are running holiday promotions earlier and longer.
Meanwhile, Amazon (AMZN) has completely shut out its shortened holiday trading session as it prepares to debut its first-ever NFL Black Friday game in hopes of reaching more viewers, luring holiday shoppers and attracting big-spending advertisers.
Read more: 6 ways to save money on your Black Friday shopping list
Disagreements at OPEC+ kept crude prices in check after the oil-producing group said it would hold its next meeting virtually. The meeting to discuss production was delayed due to quota allocation issues between Saudi Arabia and African member countries, Bloomberg News reported.
Brent crude futures (BZ=F) were trading just above $81 a barrel after falling 1.3% in the last two sessions. West Texas Intermediate (WTI) crude futures were trading at about $76 a barrel, down about 1% after the Thanksgiving holiday.
Nvidia (NVDA) shares fell nearly 2% after Reuters reported that the company had delayed the Chinese launch of an AI chip designed to comply with U.S. export restrictions. In this week’s earnings, Nvidia noted that new US restrictions would impact its results.
Cryptocurrencies saw a big rally, with Bitcoin (BTC-USD) trading above $38,000 at one point during the session. This is the highest level since May 2022. Shares of cryptocurrency broker Coinbase (COIN) also rose on the news, ending the week around six. %.
Tesla (TSLA), another top stock on the Yahoo Finance homepage, rose about 0.5% higher after CEO Elon Musk. said A strike that started at seven repair shops has begun to spread in Sweden, and now it’s “crazy” that postal workers are refusing to deliver to Tesla offices.
The strike comes after Shawn Fain, president of the United Auto Workers Union, targeted the next Tesla.
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