Markets Surge to Record Highs: Tech Leads Black Friday Rally

Tech stocks drove the S&P 500 and Dow to new heights amid a shortened Black Friday session. Nvidia and Tesla fueled gains, while retail stocks buoyed market enthusiasm at the start of holiday shopping. Record online spending is expected, but concerns linger over inflation and rate cuts.

In a shortened Black Friday trading session, the S&P 500 and Dow Jones Industrial Average reached unprecedented closing highs, steered by strength in technology stocks like Nvidia.

Retailers figured prominently as the holiday shopping season commenced, with investor attention centered on consumer reaction to significant Black Friday discounts. Online sales are projected to hit a record $10.8 billion, up nearly 10% from the previous year.

Despite market optimism, concerns persist over inflation and potential moderation of Federal Reserve rate cuts. These worries tempered gains that originated from anticipations of pro-business policies under Donald Trump's administration.

(With inputs from agencies.)