Stocks are rising before the Thanksgiving!
While the stock market is closed on Thanksgiving Day, stocks have historically risen on the days that surround it.
Tweet on the latest from the market
Futures tied to the S&P 500
the Dow Jones and the Nasdaq-100 rose about 0.1% to 0.2%.
Government bond yields rose.
The yield on the benchmark 10-year U.S.
Treasury note rose to 3.775%, from 3.757% Tuesday.
Bitcoin advanced, 2.1%
Oil prices fell as Brent crude dropped 2.3% pic.twitter.com/kk8MbHRQbA
— The_Journalbiz (@the_journalbiz) November 23, 2022
DowJones chart on the latest from the market
The S&P 500 has averaged an 0.6% gain over the Wednesday and Friday sessions surrounding the holiday, rising 83% of the time since 1950, according to Dow Jones Market Data.
Stocks traded modestly higher around midday Wednesday, with the U.S. indexes rising ahead of the Thanksgiving holiday.
HP: The computer maker said it would slash up to nearly 10% of its workforce, with a sharp slump in demand for PCs expected to stretch into next year. Its shares added 2.6% premarket.
Autodesk: The software and services design company cut its billings outlook and said its board authorized the repurchase of $5 billion of its common stock. Its shares dropped 10% premarket.
VMware: The software maker logged higher revenue but dwindling profit. Its shares slipped 1.3% premarket.
Nordstrom: The department-store chain swung to a loss as it offered higher markdowns to clear through excess inventory. Its shares slumped 7.6% premarket.
Deere: The company reported a jump in sales as supply constraints eased and it shipped more of its farm and construction equipment. Its shares climbed 4.4% premarket.
Carvana: The online used-car seller’s shares gained more than 8% ahead of the bell. The move more than erased Tuesday’s 3.6% drop that came after a series of analyst downgrades of the stock.