Stocks once again hit record all-time highs on a holiday-shortened trading day.
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All three indexes ticked up slightly, but oil slid after reports Saudi Arabia may not attend the next OPEC meeting. The bond market was closed all day for the Thanksgiving holiday.
We've got the headlines from the short day, but first, the scoreboard:
- Dow: 19,138.07, +54.89, (+0.29%)
- S&P 500: 2,210.66, +5.97, (+0.27%)
- Nasdaq: 5,392.70, +12.11, (+0.23%)
- WTI crude oil: $46.28, -$1.71, (-3.56%)
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- Saudi Arabia may not show up to the next OPEC meeting. A report from Reuters said that the nation is planning to skip next week's meeting of the oil cartel in Vienna. There is optimism going into the meeting that the countries could agree to a production freeze.
- Black Friday kicks off the holiday shopping season. The National Retail Foundation expects Americans to spend $655.8 billion in November and December, an increase from last year.
- South Africa had its outlook cut by credit rating agency Fitch. The agency affirmed the country's BBB- grade, but cited political uncertainty as a possible issue. Following the news, the country's currency, the rand, slipped against the US dollar.
- Johnson & Johnson is thinking about buying Actelion. The Swedish drugmaker has a market cap of roughly $19 billion. Actelion confirmed Johnson & Johnson's interest on Friday.
- Markit services PMI slipped in November. The measure of the US service sector ticked down to 54.7, just shy of the 54.8 expected by economists.
ADDITIONALLY:
Paul Krugman on manufacturing employment
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