Pre-Holiday Data Drop

Equities have continued to climb overnight with the rally broadening. In yesterday’s US trading, the Russell 2000, with a 2.1% gain, and the Dow Industrials, with a 1.4% gain, led the market higher. This morning’s pre-holiday trading finds Dow futures steady and NASDAQ futures up 0.4%. Overseas, the DAX climbed 0.4%, the FTSE rose 0.2% and the Nikkei jumped 1.9%.

Metals are active again today with Gold up 0.4%, Silver up 1.8%, and Copper up 1.7%. Energy action is mixed with Crude Oil down 0.1% and Natural Gas up 3.0%. Currency trading is quiet.

Although it’s a full day of trading on the NYSE, market action usually slows after noon today as traders head home for Thanksgiving and Black Friday. Anecdotal reports from the malls or online over the weekend may attract interest from those wondering about the state of consumer spending instead of football scores.

With the US government closing for the rest of the week, several data announcements are out this morning. Durable goods orders for September (0.5% vs Street 0.3%) and weekly initial jobless claims (216K vs Street 225K) were better than expected. Chicago PMI is due at 9:45 am EST.

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