2022-11-25 13:37:09

U.S. Stocks May Lack Direction Amid Shortened Session

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RTTNews
By Rtt News Staff Writer

With trading resuming following the Thanksgiving Day holiday on Thursday, stocks may show a lack of direction in early trading on Friday.

The major index futures are currently pointing to a mixed open for the markets, with the S&P 500 futures up by 0.1 percent and the Nasdaq futures down by 0.1 percent.

Many traders are likely to remain away from their desks following yesterday's holiday, contributing to below average trading activity.

An early close for the markets at 1 pm ET along with a lack of major U.S. economic data is also likely to lead to subdued trading.

Nonetheless, stocks may still benefit from recent upward momentum, which has the major averages on pace for a solid week on optimism about slower interest rate hikes.

The minutes of the latest Federal Reserve meeting, released on Wednesday, provided further evidence the central bank is considering slowing the pace of its rate hikes as soon as next month.

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