The U.S. markets were up over 1 percent on a holiday shortened Friday. They were led by technology stocks. Gains were made in thin volumes.
The Dow Jones (DJIA) was up 127.79 points or 1.5 percent Friday. The S&P500 was up 1.3 percent and the NASDAQ gained over 40.30 points or 1.4 percent.
On the DJIA, Microsoft (MSFT), Hewlett Packard (HPQ) and Cisco (CSCO) led gainers for the Day. They were up 2.78 percent, 4.19 percent and 1.95 percent respectively.
Walmart stated it had its “best ever” Black Friday as they sold over televisions. Macy’s (M) said it had a record crowd in its Manhattan flagship store. The Chairman and CEO for Macy’s stated, "It was a record crowd last year but that crowd was exceeded at this (Herald Square) store certainly this morning."Apple (AAPL) started Black Friday by slashing prices on iPads, iPods and MacBooks.
Research in Motion (RIMM) leaped 13.65 percent on good comments about its impending release of its BlackBerry 10. Also in the news, General Motors (GM) was up nearly 2.50 percent after its financing arm will pay $4.2 billion for the European and Latina America auto lending branch of Ally Financial.
European indices, for the year, had their best week yet. They were helped by good German business conference data and hopes that Greece will receive more aid. Greece stated that the International Monetary Fund (IMF) has relaxed its debt cutting target. This suggests a deal is near for the next round of aid to ensure the country can pay its debt without defaulting.
Economic events this week are relatively light. Great Britain will release its Gross Domestic Product on Tuesday. Also on Tuesday, we will see US Durable Goods and Core Goods reports and the US will release Home Sales on Wednesday.