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Market Snapshot: U.S. stock futures hold steady as shortened session, as Black Friday kicks off holiday shopping season

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U.S. stock futures were indicating a slightly higher start in a shortened session for Wall Street on Friday. Attention is expected to focus on the start of the holiday shopping season and whether consumer resilience is holding up.

How are stock-index futures trading?
  • S&P 500 futures
    ES00,
    +0.01%

    rose 6.75 points, or 0.1%, to 4,038.50
  • Dow Jones Industrial Average futures
    YM00,
    +0.03%

    gained 31 points to 34,242
  • Nasdaq-100 futures
    NQ00,
    -0.10%

    added 21.75 points, or 0.1%, to 11,884.75

Markets were closed on Thursday in observance of the Thanksgiving Day holiday.

Equities finished higher for a second session on Wednesday, with the Dow industrials
DJIA,
+0.50%

rising 95.96 points, or 0.3%, to finish at 34,194.06. The S&P 500
SPX,
+0.59%

gained 23.68 points, or 0.6%, to 4,027.26, while the Nasdaq Composite
COMP,
+2.17%

advanced 110.91 points, or 1%, to end at 11,285.32.

What’s driving markets?

Markets rose Wednesday after the minutes of the November Federal Reserve meeting showed most policy makers expect a slower pace of interest rate increases ahead. A batch of economic data also indicated growth is also slowing down.

Investors are clinging to hopes that the Fed will pivot, or turn towards a less aggressive pace of rate hikes, amid concerns the economy is facing a tough 2023.

Read: Fed’s Bullard set to talk inflation, interest rates in MarketWatch Q&A Monday

There is no data planned for Friday, which will mark a shortened session for Wall Street, with trading ending at 1 p.m. Eastern. But investors are facing a busy week ahead, with a large batch of data including third-quarter gross domestic product, the Fed’s favored inflation gauge, the PCE price index, home prices, manufacturing updates and November payrolls data.

The post-Thanksgiving trading day also kicks off the start of annual holiday shopping, known as Black Friday, which could put shares of Amazon.com
AMZN,
+1.00%
,
Walmart
WMT,
+0.48%

and Target
TGT,
+3.52%
,
among others, in focus.

The bond market will also see a schedule similar to that of equities. U.S Treasury yields were little changed, with that of the two-year note
TMUBMUSD02Y,
4.479%

down 1 basis point to 4.467% and the yield on the 10-year note
TMUBMUSD10Y,
3.712%

steady at 3.691%.

Bond Report: Bond markets hold steady in shortened post-Thanksgiving session

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