Stocks rally higher in a reduced session following Thanksgiving $AUDUSD
- Published: 26 November 2012
- US markets ended the session up strongly in a reduced session following the Thanksgiving Holiday. In a thinly traded session markets were led higher by telecommunication and technology stocks while the utility stocks lagged
- Investors attention will now turn to the Black Friday sales results which will provide a good gauge as to the state of the US consumer and their propensity to spend going into the end of the year and the all important Christmas selling period
- Retail stocks performed well on Friday's session with Wal-Mart, Target and Macys up 1.9%, 1.19% and 1.76% respectively. With both Wal-Mart citing record Black Friday sales and Macys seeing record crowds at its flagship NYC store's midnight opening
- Blackberry maker RIMM rallied 13.65% to $11.66 per share after a positive analyst report about its long delayed Blackberry 10 operating system
- DOW +1.35%, S&P500 +0.23% and NASDAQ +0.34%
- Stronger risk appetite saw the USD down on Friday and the AUD make a 1.0470 top
- Gold rose on Friday up by 1.4% on USD weakness due to better European data
- Crude rose 1.2% as tension in the Mid East simmer as protests erupt in Egypt
