Stock Market Today: Dow Futures Rise
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Stock futures pointed slightly higher before a tech outage halted trading on Black Friday, with major indexes poised to record their best week since June. Stock and bond markets will close early today.
Investors have worried about lofty technology valuations amid concerns over steep artificial intelligence spending.
The Dow Jones Industrial Average surged 664 points, marking a three-day winning streak, as investor focus shifted to the Federal Reserve's potential December rate cut. This sentiment was further fueled by reports of a potential Fed chair candidate favoring lower rates and comments from New York Fed President John Williams.
Stocks closed sharply higher for a second time in as many days this holiday-shortened trading week, although Nvidia and other semiconductor shares fell on a report Meta Platforms may use Google's AI chips in their data centers.
The Dow Jones recovered 800 points from the lows of the session to end with gains of 650 points. The index has now rallied 1,360 points in the last three sessions, recovering 55% of the recent 2,500-point sell-off.
US stock futures rose on Monday as rate-cut hopes steadied markets after steep November losses. Dow futures gained 0.3%. S&P 500 futures added 0.6%. Nasdaq 100 futures climbed 0.9%. The S&P 500 is still down 3.
U.S. indices hold steady in thin early-week trading as key resistance levels align with major EMAs. Thanksgiving week is expected to suppress volume, leaving the Nasdaq 100, Dow Jones 30, and S&P 500 in technically pivotal but quiet setups.
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