US stocks surge amid Black Friday sales

US stocks bounced higher as the market reopened Friday after the Thanksgiving break, with markets getting a lift from shoppers flocking to stores for Black Friday bargains.

There was no major economic data on the holiday-shortened session. Volume was expected to be light; US markets close early at 1:00 pm (1800 GMT).

Stocks built on strong opening gains. After an hour of trade (1530 GMT), the Dow Jones Industrial Average was up 115.86 points (0.90 percent) at 12,952.75.

The broad-market S&P 500 index advanced 12.52 (0.90 percent) to 1,403.55, while the Nasdaq Composite climbed 29.95 (1.02 percent) to 2,956.49.

"The fiscal cliff negotiations still hang over the market as the dominant issue, but today the talk is all about retail on one of the busiest shopping days of the year," said Dick Green at Briefing.com.

Retail stocks were in focus on "Black Friday," the traditional discount sales day that kicks off the holiday shopping season.

"Early evidence suggesting solid customer traffic at the nation's retailers on 'Black Friday' is supporting sentiment," Charles Schwab & Co. analysts said.

Microsoft led the Dow higher, up 2.6 percent, while Hewlett-Packard gained 2.2 percent.

Dow member Wal-Mart rose 1.1 percent. The world's biggest retailer is facing strikes on Black Friday and its Indian unit announced it had suspended several employees as part of an internal bribery probe.

Big-box rival Target was up 0.4 percent, Macy's gained 1.2 percent and Saks jumped 2.9 percent.

Research in Motion soared 12.5 percent after an analyst upgrade ahead of the launch of the BlackBerry 10 in January.

General Motors climbed 2.8 percent. Its finance arm announced late Wednesday that it had struck a deal to buy Ally Financial's European, Latin American and Chinese operations for about $4.2 billion.

On Wednesday, stocks made modest gains in light pre-Thanksgiving trade after Israel and Hamas reached a cease-fire agreement.

Bond prices rose. The 10-year US Treasury yield slipped to 1.68 percent from 1.69 percent late Wednesday, while the 30-year dipped to 2.81 percent from 2.83 percent.

Bond prices and yields move inversely.

Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2579+0.0021+0.17%
    USDSGD=X
    1.7395+0.0059+0.34%
    EURSGD=X
    2.1119-0.001-0.05%
    GBPSGD=X
    81.3833-0.3174-0.39%
    SGDJPY=X
    6.1637-0.0099-0.16%
    SGDHKD=X
    2.5959-0.0056-0.21%
    SGDMYR=X
    9,245.3486+72.0215+0.79%
    SGDIDR=X
    4.9613-0.0058-0.12%
    SGDCNY=X
    1.1664-0.0097-0.82%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,284.20+3.10+0.24%
    GCM14.CMX
    19.43+0.07+0.38%
    SIK14.CMX
    91.22+0.16+0.18%
    ^XAU
    3.05-0.01-0.23%
    HGK14.CMX
    101.55-0.20-0.20%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.71-0.01
    ^FVX
    2.70-0.02
    ^TNX
    3.49-0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.122+0.002+1.67%
    B22.SI
    0.61+0.005+0.83%
    E5H.SI
    2.22+0.010+0.45%
    JS8.SI
    0.16+0.002+1.27%
    5GB.SI
    0.142-0.003-2.07%
    545.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.23+0.031+15.58%
    5UZ.SI
    0.22+0.020+10.00%
    D6U.SI
    0.184+0.014+8.24%
    5WD.SI
    0.275+0.020+7.84%
    5TP.SI
    0.161+0.011+7.33%
    A03.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.245-0.055-18.33%
    T18.SI
    0.196-0.024-10.91%
    5WR.SI
    0.161-0.019-10.56%
    T16.SI
    0.36-0.040-10.00%
    S24.SI
    0.098-0.010-9.26%
    C11.SI