Record Highs for S&P 500 and Dow Jones as Tech Stocks Lead Black Friday Rally

The S&P 500 and Dow Jones Industrial Average reached record closing highs in a shortened Black Friday session, powered by select technology stocks. Adobe Analytics projected a $10.8 billion spend in online purchases. Meanwhile, Trump’s presidency continues influencing markets, with expectations of pro-business policies boosting equities.

The S&P 500 and Dow Jones Industrial Average soared to record highs during a shortened Black Friday trading session, bolstered by strategic gains in technology stocks. As the holiday shopping season launched, investor attention remained trained on the retail sector.

Nvidia, among other tech stocks, underpinned the S&P 500, while industrial and financial shares propelled the Dow higher. According to Adobe Analytics, online consumer spending is expected to hit an unprecedented $10.8 billion, marking a 9.9% increase over last year's Black Friday expenditures.

The financial markets continue grappling with the implications of Donald Trump's election victory, as investors anticipate that his business-friendly policies may drive growth but potentially spur inflation and impact Fed rate decisions. The Federal Reserve is projected to cut rates by 25 basis points in December, pausing any further cuts in January.

(With inputs from agencies.)