US Stock Markets Reach Record Highs Amid Small Business Saturday
On Friday, November 29, major U.S. stock indices reached unprecedented heights, bringing Wall Street’s best month of 2024 to a triumphant close. The S&P 500 rose by 0.6%, closing at 6,032.28, while the Dow Jones Industrial Average saw a 0.4% increase to 44,910.65. Not to be outdone, the Nasdaq added 0.8%, reaching 19,218.17.
The month of November was a standout for markets. The Dow gained an impressive 7.5%, marking its best monthly performance of the year. This surge was largely driven by optimism in the wake of Donald Trump’s presidential election victory. Meanwhile, the S&P 500 saw a 5.7% increase for the month, and the tech-heavy Nasdaq rose by 6.2%.
Trading on Black Friday followed an abbreviated schedule, with markets closing at 1 p.m. ET. Retail stocks such as Macy’s and Best Buy each saw gains of around 2%, as investors kept a close eye on holiday shopping trends.
Despite these market gains, attention now turns to Small Business Saturday. The Small Business Administration has highlighted the significant contribution of small businesses, which generate nearly half of U.S. GDP. These businesses are also anticipating a substantial 20% of their annual sales to come from this weekend’s events.
Source: Yahoo Finance