Heading into the Thanksgiving holiday, the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite posted gains, boosted by Microsoft’s new record and major governance changes at OpenAI.
Microsoft, as the largest investor in OpenAI, benefited from the reinstatement of Sam Altman and Greg Brockman, along with a revamped board of directors. CEO Satya Nadella expressed optimism about the move and highlighted its importance for stable and effective governance.
Trading hours:
On Thursday, U.S. stock and Treasury markets will be closed for Thanksgiving. However, on Black Friday, US stocks will follow a shortened schedule of 9:30 a.m. to 1 p.m. ET. Retail stocks like Walmart, Target, Amazon and Macy’s may see activity as data emerges on consumer spending ahead of Cyber Monday.
Start of the shopping season:
Black Friday marks the official start of the shopping season, and the focus is on retail stocks. Following this, Small Business Saturday promotes supporting local brick-and-mortar businesses during the holiday shopping rush.
Also read: Stock Market Update: Nvidia Soars, OpenAI Surprise, and Thanksgiving Anticipation!