Closing Bell: Markets End the Day Green, Holiday Week Ahead

Key Points

• The major indexes ended positively today after Thursday’s slide: the SPX was up +1.0%, the NDX up +0.7%, the Dow Jones ($DJI) up +1.1% and the Russell 2000 (RUT) up +2.8%.
• After spiking yesterday, the VIX quieted today, falling to 23.7 at the close.
• Crypto continued a slide that began on Nov. 11, with Bitcoin futures down over 2% in Friday’s trading. Bitcoin is down over 30% from its October high – and there haven’t been many headlines to explain the losses.

Nvidia (NVDA) managed to close in the green after yesterday’s drop. Despite a strong earnings quarter, it gave up gains Thursday as the market seems to sour a little on the AI trade and rotate out of tech.

Retail is in focus with Black Friday next week. While concerns around consumer sentiment and spending have persisted, analysts say buying levels still seem strong. However, consumers from all income brackets may be trading down, benefitting discounters over luxury.

Key Market Events for Monday

• 9:15 AM ET: Industrial Production (October) & Industrial Production (September, delayed)
• 10:30 AM ET: Dallas Fed Mfg. Business Index

Notable Earnings for Monday

• Premarket: None
• Postmarket: A, SYM, KEYS, ZM

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