Wed, 27 Jan 2021

NEW YORK, New York - Traders returned to work on Wall Street on Friday for a short time to send all three major indices out for the week on a high. Trading on Friday ended at 1:00pm in consideration of the Thanksgiving holiday. Thursday the markets were closed entirely.

The biggest performance was from the Nasdaq which ended the day at a record high.

"It's an abbreviated session and volume is light, so the only conclusion is that the rally is not faltering for now," Peter Cardillo, chief market economist at Spartan Capital Securities in New York told the Reuters Thomson news agency Friday.

"It does bode well for next month. Will we see a Santa rally? Most likely. Will it be as robust as November? That's a big question mark."

"Black Friday has been somewhat tarnished, traffic is down due to the pandemic, but the good news is e-commerce sales have reached a new record," Cardillo said. "That's encouraging."

By the close of trading Friday the Dow Jones Industrial Average had gained 38.56 points, or 0.13%, to 29,911.03.

The Standard and Poor's 500 advanced 9.04 points, or 0.25%, to 3,638.69.

The Nasdaq Composite accelerated 111.44 points, or 0.92%, to 12,205.85.

The U.S. dollar slide continued, although against the British pound the greenback gained a fraction to 1.3302.

The euro by the New York close Friday was being robustly bid, last quoted at 1.1953.

The Japanese yen rose to 104.05. The Swiss franc jumped a quarter-cent to 0.9049.

The Canadian dollar rose to 1.2986. The Australian dollar was being sought after at 0.7388. The New Zealand dollar was well bid at 0.7024.

In London, the FTSE 100 added 0.07 percent. The German Dax rose 0.37 percent. The Paris-based CAC 40 climbed 0.56 percent.

On Asian markets, the Australian All Ordinaries fell 32.00 points or 0.47 percent to 6,816.80.

In Hong Kong, the Hang Seng firmed 122.33 points or 0.48 percent to 26,941.78.

China's Shanghai Composite advanced 38.57 points or 1.14 percent to 3,408.31.

In Japan, the Nikkei 225 rose 107.40 points or 0.40 percent to 26,644.71.

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