Dow futures lack of direction – Thanksgiving break

by Mike Elliot | Monday, Nov 28, 2016 | 143 views

As the mood for the thanksgiving break continues to intensify, the Dow futures have increasingly become volatile showing as they continue to show signs of struggle. It is as if US traders have no intensions of diving attention between enjoying the holiday and trading. Consequently, US stock futures have shown no signs of change following the coming of the Thanksgiving holiday.

What can account for this?

Dow futures have continued to struggle much to the amazement of investment experts. It is usually not easy to project the direction of the market based on the uncertainties that are associated with trading on holidays such as thanksgiving. But, experts now believe that the US stock futures have stagnated based on the fact that traders are more focussed on enjoying the holiday than trading. Making big bets coupled with market speculations are the last activities any investor is thinking about.
According to experts, this is what could explain why the Thursday stock market prices appear to have remained unchanged. In a note to the press regarding the marketing prices on thanksgiving, Think Markets chief market analyst said, “Americans have travelled home to celebrate thanksgiving and enjoy the aroma of the burning turkey in anticipation of a great holiday.”

The market scenario

But, there are some stock futures which registered meagre changes in their trading prices. For example, ESZ6, among the S&P futures which registered a rise in its share price by just less than 1 point closing on 0.95 higher. This is a rise equivalent to 0.1 % which caused it to close the market at 2, 201.75. On the other hand, YMZ6, the Dow Jones Industrial Average gained 15 points and closed the day on 19, 069 also registering just less than 0.1 % of a gain. Nasdaq-100 also rose by small margin of 0.5 point closing at 4, 850.

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