US open: Stocks advance in holiday-shortened session
By Iain Gilbert
Date: Friday 27 Nov 2020
(Sharecast News) - Wall Street stocks opened higher on Friday's shortened session after traders took a day off to celebrate Thanksgiving.
As of 1520 GMT, the Dow Jones Industrial Average was up 0.20% at 29,933.18, while the S&P 500 was 0.33% firmer at 3,641.67 and the Nasdaq Composite started out the session 0.98% stronger at 12,213.26.
The Dow opened 60.71 points higher on Friday, cutting into losses recorded in the previous session despite the Trump administration finally signalling its willingness to begin the transition process for President-elect Joe Biden.
US markets will shut for trading at 1800 GMT in recognition of the Thanksgiving long weekend and allow Americans to take advantage of Black Friday sales across the nation.
Further comments from Donald Trump also helped boost sentiment, with the incumbent agreeing to leave the White House if the Electoral College voted for Biden.
"Certainly I will. And you know that," Trump said. However, he added that it would be hard for him to concede because "we know there was massive fraud" but failed to offer any kind of evidence of widespread voter fraud.
In the corporate space, online retail giant Amazon will be in focus as a result of the day's Black Friday sales, as will the likes of Walmart, Gap and Shopify, while news that AstraZeneca will run an additional global trial to try and confirm the efficacy of its low dose/full dose regimen was also drawing some investor attention.
No major data points were scheduled for release on Friday.
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