Going where no market has gone before: Dow Jones and S&P 500 scale new heights on Black Friday
Most of the US population might be out beating each other to a pulp to get at Black Friday deals – but traders were on more of a share-buying frenzy, sending two of the US' blue chip indexes to record highs.
The Dow Jones jumped more than 50 points to 19,143.9 points in early trading in New York, its highest ever. Meanwhile, the S&P 500 rose just over five points to 2,210.4 points, as so-called Trumpflation continued to spur on investors.
Across the pond, the FTSE 100 was calm rising 0.16 per cent to 6,840 points in late afternoon trading.
It was led by Sky, which rose almost four per cent after credit ratings agency Moody's upgraded its Sky Bet brand, in which Sky holds a 20 per cent stake, following a strong performance.
However, housebuilders continued to fall after dual bombshells – one from the chancellor and one from the Institute of Fiscal Studies – gave investors itchy feet.
US markets have returned for a brief spell, moving yet higher on their half day, helping equities in London and Europe," said IG's Chris Beauchamp.
"Top of the leaderboard in London has been Sky, which has gained three per cent on expectations that its move into the UK’s wireless market will pay dividends in the long term. Details as yet are sketchy, but on an otherwise thin afternoon for news, the report has been enough to tempt investors into the stock.
"With little else to drive flows, investors have reverted to type, buying up dividend stocks after a few weeks of chasing high beta names. European indices have held up well, but growing signs of euro strength suggests that the long-expected pullback is about to begin."
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