Share market up on year thanksgiving thanksgiving day,stock market rises thanksgiving
Thanksgiving is almost upon us, and the stock market is going to do just fine thanks to the Thanksgiving holiday and its strong economic recovery.
The Dow Jones Industrial Average, which had reached an all-time high of 26,926 on November 24, has climbed nearly 350 points, or 5.4%, on the year.
That’s more than the average increase of more than 5% for the Dow in 2016, which was up about 40 points.
The S&P 500, which has gained nearly 4%, is up 2.4% to 3,817.
The Nasdaq Composite is up 3.3% to 7,959.
The Russell 2000 is up 4.4%.
The Nasdaq has gained 2.9% in 2017.
The index has added nearly 400 points since the beginning of 2017.
That’s more gains than the index has gained in the past five years combined, and nearly twice the growth of the S&p 500.
The rally was led by gains on Wall Street and the tech industry.
The Dow rose more than 500 points in the first 24 hours after Thanksgiving, when it was boosted by the recovery of the tech sector.
That helped to boost the Dow above 22,000.
It rose another 10 points on Wednesday morning.
The gains on both sides of the Atlantic were followed by more positive signs on Wall St.
The Nascom Group, which owns the Dow Jones industrial average, said on Wednesday that it would buy a stake in LinkedIn, a company that has been the target of many of the largest investors who have been buying up the company’s stock.
LinkedIn said it would invest $100 million to $200 million.
The tech industry has been on a tear.
The tech sector added about 100,000 jobs in the year that ended in December, according to the Federal Reserve.