US stocks were mixed on Friday amid a low-volume day of trading following the Thanksgiving holiday.
By midday trading, the Dow Jones Industrial Average (^DJI) moved up about 0.2%, or more than 50 points, while the benchmark S&P 500 (^GSPC) dropped roughly 0.5%. The tech-heavy Nasdaq composite (^IXIC) lagged, falling about 0.2%.
Eyes will be on retailers as Black Friday kicks off the holiday shopping season after big box chains such as Target (TGT) and Walmart (WMT) warned that penny-pinching consumers are spending cautiously. Retailers are going earlier and longer on holiday promotions as shoppers turn picky.
Read more: 6 ways to save money on your Black Friday shopping list
Meanwhile, discord at OPEC+ kept a lid on crude prices after the group of oil-producing countries said it will hold its next meeting online. The meeting to discuss output was delayed due to a dispute between Saudi Arabia and African members over quotas, Bloomberg reported.
Brent crude futures (BZ=F) ticked up to trade above $82 per barrel, after falling 1.3% in the last two sessions. West Texas Intermediate (WTI) crude futures were down slightly to trade at just below $77 a barrel, after the Thanksgiving break in trading.
Nvidia's (NVDA) stock dropped more than 1% after Reuters reported the company has pushed back the launch in China of an AI chip designed to comply with US export curbs. In its earnings this week, Nvidia noted the new US restrictions would drag on its results.
Cryptocurrencies saw a big boost with Bitcoin (BTC-USD) rallying more than 2.5% to trade above $38,000 a coin — its highest level since May 2022. Shares in crypto broker Coinbase (COIN) also moved higher on the news, up about 6%.
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November 24, 2023 at 09:35PM
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Stock market news today: US stocks tread water on shortened trading day - Yahoo Finance
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