Shares of U.S. chipmaker Intel were leading the S&P higher as stocks edged upward on a holiday-shortened Black Friday session expected to be light on trading volume and corporate news.
All three of the major indexes were modestly higher, led by the blue-chip Dow, in late-morning trading. It’s an abridged day for traders after yesterday’s holiday break: The stock market closes at 1 p.m., while the bond market is set to close an hour later. (Read Investopedia’s full coverage of today’s action here.)
Intel (INTC) was the biggest mover, on a percentage basis, on the S&P 500 in either direction, rising about 8%. Drugmaker Eli Lilly (LLY) was the biggest decliner, slipping close to 3%.
A few consumer-focused companies were among the top movers on Black Friday, a vital in-store and online shopping day. Brown-Forman (BF.A, BF.B), known for Jack Daniel’s whiskeys and Herradura tequilas, among other things, was up 1.5%, while athletic apparel company Lululemon (LULU) was more than 2% higher. Consumer electronics retailer Best Buy (BBY), which reported its latest quarterly financial results earlier this week, was more than 1% lower.
Some high-profile stocks associated with the AI buildout were in the red today. Nvidia (NVDA) was recently down 1.8%, while Oracle (ORCL) was off 2.2%. Both companies’ shares were among the bigger decliners in the S&P 500. Broadly speaking, Big Tech was creeping upward: The Roundhill Magnificent Seven ETF (MAGS) was recently up 0.3%.
Shares of crypto exchange Coinbase Global (COIN) were recently up nearly 4%. Cathie Wood’s ARK funds have reported purchases of the stock this week; the price of Bitcoin was recently changing hands around $92,000 as the leading cryptocurrency extended its bounce off recent lows. Bitcoin buyer Strategy (MSTR) was up 2.4%.
