US stocks ended little-changed on Friday (Nov 27) in a shortened session a day after the Thanksgiving holiday, with retailers in focus as Black Friday sales kicked off the important year-end shopping season.
Investors shrugged off a steep plunge in Chinese stocks, sparked after authorities opened investigations into several brokerages.
The Dow Jones Industrial Average slipped to 17,798.49, down 14.90 points (0.08 per cent), as Disney weighed.
The broad-based S&P 500 edged up 1.24 points (0.6 per cent) to 2,090.11, while the tech-rich Nasdaq Composite Index advanced 11.38 points (0.22 per cent) to 5,127.52.
“Unsurprisingly, the Friday session was very quiet with trading volume running well below average,” Briefing.com said.
Stocks had moved little in the week’s first three days of trading. Markets were closed Thursday for Thanksgiving Day, and closed three hours early Friday, at 1800 GMT. No economic indicators were on the agenda.
“With nothing in the way of earnings or economic data to digest, traders will await Black Friday updates from retailers,” said Alex Eppstein at Schaeffer’s Investment Research.
The National Retail Federation will release spending results for the Thanksgiving holiday weekend on Sunday.
Shoppers flocked to stores for Black Friday sales, the start of the year-end holiday promotions that account for a large part of retailers’ full-year earnings.
Retail giant Wal-Mart fell 0.6 per cent on the Dow. Macy’s dropped nearly one per cent and The Gap tumbled 2.2 per cent.
In contrast, Target rose 0.4 per cent reporting a strong start to its Black Friday weekend, especially a 35 per cent jump in online orders for in-store pickup on Thanksgiving. Online behemoth Amazon fell 0.3 per cent.
NetEase Inc (ADR) (NASDAQ:NTES)stock edged lower by -3.20% to close Friday’s session at USD 164.01. The company’s shares hovered between USD 170.37and USD 94.17(marking a new 52-week high/low) during the session. The stock traded with the volume of 1.42million shares, which was above its 3 month average volume of 891.77K shares. Over the last 5 days, NetEase Inc shares have rose by 3.36%.NetEase Inc (ADR) (NASDAQ:NTES)on November 18, 2015announced its unaudited financial results for the third quarter ended September 30, 2015. The third quarter financial results show the net revenues for the third quarter of 2015 were RMB6,672 million(US$1,050 million), with total net revenues increasing by 114.1% and 46.1%, compared with the third quarter of 2014 and the preceding quarter, respectively. Net revenues from online games were RMB5,213 million (US$820 million) for the third quarter of 2015, with total net revenues increasing by 124.5% and 42.5%, compared with the third quarter of 2014 and the preceding quarter, respectively. The net revenues for the third quarter of 2015 nearly hit RMB6,700 million, with mobile games revenues driving new growth. NetEase’s diverse genres of self-developed games, which contributed to its positive financial results for the third quarter of 2015, were highlighted at the G-STAR 2015 in South Korea. The games NetEase showcased at the global game exhibition, some new and some with deeper roots, are believed to hold strong growth potential.
Seadrill Ltd (NYSE:SDRL) lost -3.14% to close Friday’s session at USD 6.17. The shares of the company fluctuated in the range of USD 15.44and USD 5.60(marking a new 52-week high/low) during the session. A trading volume of 3.29million shares was recorded, which was less than its 1 month daily average volume of 8.61million shares. Over the three months, Seadrill Ltd shares have declined by -21.90%. Seadrill Ltd (NYSE:SDRL)on November 27, 2015announces that Georgina Sousa has been appointed as a Director of the Company. Ms. Sousa has served as our corporate secretary since December 2005. She is currently a Director, Secretary and the Head of Corporate Administration for Frontline Ltd. and a Director and Company Secretary for North Atlantic Drilling Ltd. and Ship Finance International Limited. Until January 2007, she was Vice-President-Corporate Services of Consolidated Services Limited, a Bermuda Management Company, having joined the firm in 1993 as Manager of Corporate Administration. From 1982 to 1993 she was employed by the Bermuda law firm of Cox & Wilkinson as Senior Company Secretary and from 1976 to 1982 she was employed by the Bermuda law firm of Appleby, Spurling & Kempe as a Company Secretary.
Gerdau SA (ADR) (NYSE:GGB)‘s stock decreased by -2.71% to close Friday’s session at USD 1.62. The Company’s shares oscillated in the range of USD 1.60and USD 1.66. A total of 5.45million shares exchanged hands, which followed its 1 month daily average volume of 7.22million shares. Over the last five days Gerdau SA shares have surged by 3.21%. Gerdau SA (ADR) (NYSE:GGB) produces and commercializes steel products worldwide. It operates through Brazil, North America, Latin America, Special Steel, and Iron Ore segments. The company provides semi-finished products, which include billets that are bars from square sections of long steel that serve as inputs for the production of wire rod, rebars, and merchant bars; blooms for use in the manufacture of springs, forged parts, heavy structural shapes and seamless tubes; and slabs, which are used in the steel industry for the rolling of various flat rolled products, as well as to produce hot and cold rolled coils, heavy slabs, and profiles. It also offers long rolled products comprising rebars, merchant bars, and profiles, which are primarily used in the construction and manufacturing industries; and drawn products, such as barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries. In addition, the company offers special and stainless steel products used in tools and machinery, chains, fasteners, railroad spikes, and special coil steel, as well as special sections comprising grader blades, smelter bars, light rails, super light I-beams, elevator guide rails, and other products.