US stocks saw modest gains on Friday, November 29, 2024, as investors focused on the implications of incoming President Donald Trump’s tariff plans and the Black Friday shopping season. Futures for the Dow Jones Industrial Average rose approximately 0.3%, while S&P 500 and Nasdaq 100 futures increased by 0.2% each, indicating a positive outlook for the market despite recent pullbacks.
- US stocks rose ahead of shortened trading session.
- Focus on Trump's tariff agenda and Black Friday.
- Major indexes on track for monthly gains.
- Investors cautious about consumer spending trends.
- Bitcoin and oil prices increased on Black Friday.
- OPEC+ delays meeting, impacting oil market.
The last trading day of November is expected to be quiet as markets reopen after the Thanksgiving holiday. The major indices are on track for monthly gains, with the S&P 500 nearing its record high. Analysts predict a 5% increase for the month, marking its best performance since February. Investors are still assessing the potential impact of Trump’s proposed tariffs on Mexico, Canada, and China, which could influence inflation and trade dynamics.
Key points include:
- Dow futures increased by 0.3%.
- S&P 500 futures rose by 0.2%.
- Nasdaq 100 futures also climbed by 0.2%.
In addition to tariffs, there is growing optimism regarding US restrictions on Chinese chips, which may be less severe than initially feared. This News has positively affected European chip-related stocks, including ASML. As Black Friday sales commence, retailers are keenly observing consumer behavior, especially as shoppers are becoming more budget-conscious. Early indicators show shares of major retailers like Target, Walmart, and Best Buy are performing well in premarket trading.
In summary, US stock futures are trending upward as the market anticipates a positive holiday shopping season amid ongoing discussions about tariffs. Investors remain vigilant as they navigate potential changes in trade policies that could affect market dynamics and consumer spending.
