New York, New York – Dow Jones futures showed a slight rise early Thursday, joined by S&P 500 futures and Nasdaq futures as U.S. stock and bond markets remain closed for the Thanksgiving holiday. During the previous session, major indexes experienced a decline heading into Thanksgiving, although they saw a bounce back as Treasury yields continued to retreat.
CrowdStrike, Workday, Nutanix, and Dell Technologies were among the notable tech stocks that experienced losses on Wednesday due to earnings reports. However, Nvidia managed to avoid further losses and maintained key support levels. Conversely, Toll Brothers rose within a buy zone as homebuilders rallied on lower rates, while Berkshire Hathaway broke out positively.
In a late Wednesday update, President-elect Donald Trump declared victory in discussions with Mexico President Claudia Sheinbaum, claiming agreement on halting illegal migration over the Mexican border. This positive development may raise hopes on Wall Street that Trump will not go forward with imposing tariffs on Canada, Mexico, and Chinese goods as threatened previously.
Moving into the current day, Dow Jones futures exhibited a 0.2% rise, with S&P 500 futures and Nasdaq 100 futures also showing gains. Other global exchanges were open for trading on Thanksgiving Day, with various chip-equipment makers experiencing a rise based on reports of potential new chip export restrictions on China from the U.S.
The stock market rally, though weak in the previous session, managed to maintain overall gains for the week, with major indexes hovering around all-time highs. U.S. crude oil prices fell slightly, while the 10-year Treasury yield saw a 6 basis points decline, contributing to a week-long drop of 17 basis points.
Nvidia stock, which had been struggling recently, saw a slight decline but managed to hold above key moving averages. Despite challenges, the broader stock market rally is showing strength, with small and midcap stocks leading the way. Investors are advised to focus on sectors and stocks that are performing well, adjusting their portfolios accordingly while keeping an eye on market trends.