Wall Street edges higher in thin post-holiday trade

Wall Street edges higher in thin post-holiday trade

Reuters

Expectations for a Federal Reserve rate cut in December strengthened throughout the week, helping underpin sentiment across equity markets.

The three main indexes posted weekly gains, with the S&P 500 rising 3.73%, the Nasdaq rising 4.91%, and the Dow climbing 3.18%. (EPA Images pic)
NEW YORK:

 US stocks climbed on Friday in thin trading volume during a shortened session after Thanksgiving, driven by gains in retail and a recovery in tech stocks.

Expectations for a Federal Reserve rate cut in December strengthened throughout the week, helping underpin sentiment across equity markets.

The Dow Jones Industrial Average rose 0.61%, to 47,716.42 points, the S&P 500 gained 0.54%, to 6,849.09 points and the Nasdaq Composite added 0.65%, to 23,365.69.

All of the major S&P 500 sectors were up except healthcare, with pharmaceutical Eli Lilly down 2.6%.

Intel helped lead the S&P 500 with a 10.2% gain after a TF International Securities analyst said the company would begin shipping Apple’s AAPL.O lowest-end M processor as early as 2027.