Trading volume was light on the market today, as investors have been gearing up for Black Friday. However, this didn’t stop the bull from sending market indices into new record highs, a phrase that has become pretty common place in recent headlines.
The Nasdaq passed 4,000 today, while the S&P 500 along with the Dow Jones flirted with new record highs throughout the day.
As expected, major retailers were among today’s leaders. Shares of Tiffany & Co. reached record highs of its own after investors reacted to positive sales and earnings reports from the major jewelry retailer.
JC Penny and Jos. A. Bank also saw a surge in share prices following some positive news surrounding their status entering the retail holiday.
We can expect volume to stay low as fund managers spend the week napping from a belly full of hot turkey. The market will still see its share of programmed trading but barring any major news that demands a reaction, we can expect the bull to glide on its recent momentum but otherwise stay pretty dull.