Stock Market Today: Dow futures rise in early Black Friday trading
How are stock-index futures trading:
S&P 500 futures are up 0.3%.
Dow Jones Industrial Average futures are gaining 0.3%.
Nasdaq 100 futures are advancing 0.4%.
On Wednesday, the Dow Jones Industrial Average fell 138 points, or 0.31%, to 44,722, the S&P 500 declined 23 points, or 0.38%, to 5,999, and the Nasdaq Composite dropped 115 points, or 0.6%, to 19,060.
Futures indicate the S&P 500 may look to record its 53rd record high of the year as investors return from the Thanksgiving break in optimistic mood. The New York Stock Exchange and Nasdaq will close early for Black Friday, stopping trading at 1 p.m. Eastern.
Investor focus may shift to the retail sector and the strength of the U.S. consumer amid expectations of a bumper Black Friday spending spree, according to Kathleen Brooks, research director at XTB.
“As we move into the final weeks of the year, a strong Black Friday may boost the wider stock market, which has started to outperform the U.S. tech giants,” Brooks adds.
The CBOE VIX index, an option-derived measure of expected S&P 500 volatility, known as Wall Street’s fear gauge, has dipped just below 14, its lowest level since July. The historic average VIX level is 19.5, so the current reading implies investors may be sanguine about the market’s valuation.