US stocks rise as Dow, S&P hit new records
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Wall Street stocks advanced Friday with the Dow and broad-based S&P 500 indexes both logging fresh records on a shortened trading day after the Thanksgiving holiday.
The Dow Jones Industrial Average climbed 0.4 percent to 44,910.65, while the S&P jumped 0.6 percent to 6,032.38.
The tech-focused Nasdaq Composite Index meanwhile added 0.8 percent to 19,218.17.
Chip companies in particular notched gains after a news report that President Joe Biden's administration was mulling further curbs on semiconductor equipment sales to China that were less severe than anticipated.
Shares in Nvidia jumped 2.2 percent.
"It's one of those days where participation isn't super heavy, but you're really not seeing any concerted selling interest," said Patrick O'Hare of Briefing.com.
He added that for now, the market appears to be "cruising along here without any interference."
The movements came on "Black Friday," a day marked by discounts that originated as a single day when consumers poured into malls to seek out shopping deals.
O'Hare noted, however, that with the popularity of online shopping, Black Friday has become less of a "frenetic rush" even if there is still a lot of attention on the retail space.