Kaltbaum Capital Management president Gary Kaltbaum and Advisor Group chief market strategist Phil Blancato break down the ‘mushy’ market on ‘Making Money.’
The equity markets in the U.S. will be closed Thursday for Thanksgiving.
There will be trading in the futures markets – including stocks, oil and gold – until 1 p.m. ET. Futures trading will resume at 6:00 p.m.
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The bond market will be closed so there will be no trading in U.S. Treasuries.
When Wall Street goes back to work on Friday, it will be an abbreviated session, with equity markets trading a half-day closing at 1 p.m. EST. U.S. Bond markets will close at 2:00 p.m. EST.
Markets in London, France and Germany will be open for trading on Thursday.
Asian stock markets were mixed Thursday after Federal Reserve officials indicated they were ready to raise interest rates sooner than expected if needed to cool inflation.
The Nikkei 225 in Tokyo gained 0.7%, the Hang Seng in Hong Kong advanced 0.2% and China’s Shanghai Composite Index fell 0.2%.
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On Wednesday, the S&P 500 advanced 0.2% to 4,701.46. Gains in technology, real estate and energy stocks outweighed a slide in banks and materials companies.
The Dow Jones Industrial Average slipped less than 0.1% to 35,804.38. The Nasdaq composite gained 0.4% to 15,845.23.
FED PREPARED TO HIKE INTEREST RATES IF INFLATION REMAINS ELEVATED, MINUTES SHOW
Fed officials at their October policy meeting said they “would not hesitate” to respond to inflation, according to notes released Wednesday. They foresaw the possibility of raising rates “sooner than participants currently anticipated.”
Consumer spending rose 1.3% in October, slightly more than double the previous month’s rise, according to the Commerce Department.
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The Labor Department reported the number of Americans applying for unemployment benefits fell last week to its lowest level in more than half a century.
The Associated Press contributed to this report.