US stocks open with modest gains; S&P 500/Nasdaq hit fresh all-time highs
Major US equity indices opened with modest gains on Friday, in what will be a shortened session and as Black Friday holiday shopping kicks off.
The broader S&P 500 Index and tech-heavy Nasdaq Composite Index touched fresh intraday record highs immediately after the opening bell, with the Dow Jones Industrial Average also moving within striking distance of its all-time high level.
The US markets were closed on Thursday on the back of Thanksgiving Day holiday and thin trading conditions are expected to prevail as participants would steer away from making any big trading bets. Nevertheless, all the three major indices remain on track to close the holiday-shortened week on a positive note, with gains of anywhere between 0.7% - 1.2%.
Meanwhile, investors continue to assess the latest Federal Reserve meeting minutes, which suggested that the pace of future interest rate hikes, post-December, could be more moderate on concerns over stubbornly low inflationary pressure.