• United States stock market reopens after Thanksgiving with equities slowly sliding.
  • Apple faces more challenges from Foxconn factories in China.
  • Microsoft's deal for Activision Blizzard also likely to weigh on the tech sector.

Welcome back after the Thanksgiving feast but do not expect much action on US stock markets. European markets were very quiet and it looks like more of the same on Friday for the S&P 500 to close out the week. Little data of note and only Oil price may get some catalyst later from the European Union meeting to again discuss the price cap on Russian Oil.

S&P 500 news: Limited trading on Black Friday

The United States stock market reopens after its Thanksgiving feast as shoppers rush to Black Friday discounts. That will see reports early next week on the strength of the shopping season and possibly confirm recent trends from retailers who are holding up well.

The news on Apple (AAPL) remains in flux as reports from the Foxconn plant in China continue to worsen. The tech sector could also be hit by Microsoft (MSFT) as its deal for Activision Blizzard (ATVI) looks likely to face more competition scrutiny. Overall, Friday could be set for a small move lower on the back of some profit-taking ahead of the weekend. Equity markets, including the S&P 500, close early at 18.00 GMT (13 EST).

SPX forecast: Bear-market rally scenario intact

Technically, the S&P 500 rally remains in place and bulls are firmly in charge. 4,028 is the intraday resistance pivot, the weekly high. Below, and we are likely to slide to 3,946. That is the medium-term pivot for the move to continue.

S&P 500 (SPX) stock market daily chart shows bear-market rally  

SPX daily chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

EUR/USD falls below 1.0500 after US NFP data

EUR/USD falls below 1.0500 after US NFP data

EUR/USD dropped below 1.0450 but managed to stage a modest rebound. The US Dollar preserves its strength against its rivals and doesn't allow the pair to gain traction after the data from the US showed that Nonfarm Payrolls rose by 263,000 in November.

EUR/USD News

GBP/USD turns south on upbeat US jobs report, trades below 1.2200

GBP/USD turns south on upbeat US jobs report, trades below 1.2200

GBP/USD lost nearly 100 pips with the immediate reaction to the upbeat November jobs report from the US and broke below 1.2200. The US Dollar Index clings to strong daily gains above 105.00 after the data showed that Nonfarm Payrolls rose by 263,000.

GBPUSD News

Gold retreats below $1,790 as US yields surge on US NFP

Gold retreats below $1,790 as US yields surge on US NFP

Gold price turned south and dropped below $1,790 in the early American session. The benchmark 10-year US Treasury bond yield is up more than 2% on the day near 3.6% after the bigger-than-expected November job growth, weighing heavily on XAU/USD.

Gold News

FTX exchange collapse, loss of $3.1 billion could have been avoided on one condition

FTX exchange collapse, loss of $3.1 billion could have been avoided on one condition

FTX exchange, founded by Samuel Bankman-Fried (SBF), has consistently made headlines over the past month for its liquidity crisis and triggering a collapse in the crypto ecosystem.

Read more

AMC advances more than 3% in premarket day after being halted

AMC advances more than 3% in premarket day after being halted

AMC stock is up 3.4% in Friday's premarket just a day after authorities halted trading due to unusual volatility. Thursday saw options volume three times higher than the 20-day average.

Read more

Forex MAJORS

Cryptocurrencies

Signatures