U.S. stocks could start the final session of the trading week on a mixed note as they reopen after Thanksgiving. Friday’s session is abbreviated and the market closes at 1 p.m. ET. Nvidia Corp.’s (NASDAQ:NVDA) lean patch continues and the negative sentiment could pervade into the rest of the tech space. Bond yields have seen a small upward bounce, while crude oil continues to languish. Traders may also react to the S&P Global’s purchasing managers’ data shortly after the market opens.
Cues From Wednesday’s Trading:
The major averages advanced in thin pre-holiday trade on Wednesday despite some earnings disappointments. Traders were encouraged by an intra-day pullback in bond yields amid the release of weak weekly jobless claims and durable goods orders report for October.
The S&P 500 Index settled at its highest level since Aug. 1 and the Dow ended at a 3-1/2 month high.
US Index Performance On Thursday
| Index | Performance (+/-) | Value |
| Nasdaq Composite | +0.46% | 14,265.86 |
| S&P 500 Index | +0.41% | 4,556.62 |
| Dow Industrials | +0.53% | 35,273.03 |
| Russell 2000 | +0.69% | 1,795.54 |
Analyst Color:
As the year-end draws close, a Morgan Stanley analyst cautioned that 2024 is likely to be a “tale of two halves” — a cautious first half giving way to strong performance in the second half of the year.
Mike Wilson, the firm’s Chief Investment Officer, warned that risks to global growth, driven by monetary policy, remain high, and earnings headwinds may persist into early 2024 before a recovery takes hold. In the second half of the year, falling inflation should lead to monetary easing, bolstering growth,” he added.
“We think near-term uncertainty will give way to a comeback in U.S. equities,” said Wilson. He expects earnings growth to remain robust into 2025, with positive operating leverage and productivity growth from artificial intelligence likely leading to margin expansion.
Futures Today
Futures Performance On Friday
| Futures | Performance (+/-) |
| Nasdaq 100 | -0.08% |
| S&P 500 | +0.08% |
| Dow | +0.23% |
| R2K | -0.11% |
In premarket trading on Friday, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.09% to $455.41 and the Invesco QQQ ETF (NASDAQ:QQQ) edged down 0.06% to $389.82, according to Benzinga Pro…
Click Here to Read the Full Original Article at Cryptocurrencies Feed…
