Dow Jones Today: Stock Futures Inch Higher as Market on Pace to Close Out a Winning Month

Stocks rose Friday morning, led by gains for shares of Nvidia and other chipmakers, as the equities market rebounds from a pre-Thanksgiving downturn.

The Dow Jones Industrial Average was up 0.3% about 45 minutes after the opening bell, while the S&P 500 and Nasdaq Composite added 0.5% and 0.7%, respectively. Stocks slid heading into the holiday, with the S&P 500 snapping a seven-session winning streak on Wednesday as investors digested a flurry of earnings reports and economic data. Major indexes remain on track to wrap up November with solid gains for the month thanks to a post-election rally that has sent stocks to a series of record highs.

There are no noteworthy corporate or economic releases scheduled for Friday, which is a shortened trading day for both the stock and bond markets. Investors will, however, be keeping a close eye on news about how active consumers are on Black Friday, one of the busiest shopping days of the year.

Large-cap technology stocks were mixed in early trading. AI chipmaker Nvidia (NVDA) was leading the gainers, rising more than 3%, while Apple (AAPL), Amazon (AMZN), Meta Platforms (META) and Tesla (TSLA) also advanced. Shares of Microsoft (MSFT) and Alphabet (GOOGL) fell slightly.

Shares of chipmakers and their suppliers were among the top gainers Friday morning. The PHLX Semiconductor Index was up more than 2%, as KLA Corp. (KLAC), Qualcomm (QCOM), Marvell Technology (MRVL), Applied Materials (AMAT) and Arm Holdings (ARM) all moved higher.

Bitcoin was trading at around $98,600, up from overnight lows below $96,000. Bitcoin has gained nearly 40% since the U.S. election amid investor optimism that a Trump White House and cryptocurrency-friendly Congress will promote policies that benefit the asset class.

Gold futures were up about 0.5% at around $2,680 an ounce, while Brent crude oil futures were little changed.

The yield on 10-year Treasurys, which is correlated with investors’ expectations about where interest rates are headed, was at 4.20%, down from 4.24% on Wednesday and trading at its lowest levels of the month.