New York Stock Exchange Closing: All three indices rise on Black Friday consumer expectations.

Source: BlockMedia Original Title: [New York Stock Market Closing] Black Friday Consumer Expectations Rise All Three Indices Original Link: https://www.blockmedia.co.kr/archives/1012616 The three major indices of the New York stock market closed strongly as consumer sentiment grew ahead of the year's biggest shopping event, 'Black Friday.' The market had an early closure at 1 PM local time due to the Thanksgiving holiday.

On the 28th, at ( Eastern Time in the United States, the Dow Jones Industrial Average closed up 289.30 points, or 0.61%, at 47,716.42. The Standard and Poor's 500 index rose by 36.48 points, or 0.54%, to record 6,849.09, while the Nasdaq Composite Index jumped 151.00 points, or 0.65%, closing at 23,365.69.

Inflow of Buying Demand Focused on Consumer Stocks and Blue-Chip Stocks

On this day, the New York stock market was quiet due to the Thanksgiving holiday, but there was a buying surge centered around retailers and blue-chip stocks on the expectation that consumption would increase starting from Black Friday.

Amazon and Walmart rose by more than 1%, while Costco increased by 0.59% and Home Depot by 0.41%.

With the holiday season approaching, Visa and Mastercard have also shown an increase of around 1% in anticipation of active card spending.

On travel expectations, United Airlines rose by 0.36%, continuing its upward trend for five consecutive trading days, with a cumulative increase rate nearing 13% over the last five trading days.

NVIDIA Falls, Semiconductor Index Soars

Tech giants with a market capitalization of over $1 trillion generally showed positive performance. Microsoft and Broadcom recorded gains in the 1% range, while Meta rose by 2.26%. Alphabet, which had recently shown a sharp upward trend amid expectations of threatening NVIDIA's position, took a breather in a stable range on this day.

NVIDIA fell 1.81% reflecting concerns about its dominance in the AI) market.

The Philadelphia Semiconductor Index, composed of AI and semiconductor-related stocks, surged by 1.82% with all stocks rising except for NVIDIA, confirming strong buying sentiment. In particular, Intel's stock jumped more than 10% on expectations that it could start producing Apple's minimum specification 'M series' semiconductors from 2027.

On this day, Sandisk, which was included in the S&P 500 index, rose by 3.83%. Sandisk is a flash memory manufacturer that spun off from Western Digital last February.

Intensifying Bets on Interest Rate Cuts… Decline in VIX

There was a prevailing sentiment in the market favoring risk assets. Brian Mulberry, a portfolio manager at Jack Investment Management, stated, “The betting rate that the benchmark interest rate will be lowered in the coming weeks reaches 80-85%,” and added, “The atmosphere of risk-taking is spreading again.”

According to the CME FedWatch, the federal funds futures market reflects an 86.9% probability that the benchmark interest rate will be lowered by 25 basis points in December.

By sector, all sectors rose except for healthcare(, which fell by 0.5%. Notably, energy jumped by 1.32%. The Chicago Board Options Exchange) CBOE( Volatility Index) VIX(, indicating market volatility concerns, pointed to a decrease of 5.00% to 16.35.

Meanwhile, it was reported that due to technical issues at the Chicago Mercantile Exchange)CME(, data for certain asset classes including U.S. stock index futures was halted in the Asian and European markets, but it was fully restored at 8:30 AM according to CME.