The NASDAQ reached a new all-time high on Friday, as data released showed that Thanksgiving online shopping rose to record highs.
According to data from Abode, Thanksgiving online shopping saw roughly $5.1 billion spent by Americans. These figures saw sales up by close to 21.5% on last year’s numbers, with 47% of sales coming via mobile purchases.
This helped the tech heavy NASDAQ Index add 0.92% in today’s limited trading session, to secure a record close at 12,205.85.
Tesla was one of the biggest winners today, gaining over 2%, and reaching a record market cap of over $555 billion.
No Brexit breakthrough as deadlines nears
EU and British negotiators are set to engage in trade talks this evening, however both parties continue to suggest that there are substantial differences over a Brexit trade deal.
With exactly 4 weeks to go before the end of 2020, and the December 31st deadline, a trade deal is still yet to be finalized. If things remain as they are, a no-deal scenario will await the UK and EU as they enter 2021.
Prime Minister Boris Johnson gave his view on the matter to reporters, stating that, “Clearly there are substantial and important differences still to be bridged but we’re getting on with it“.
Both the DAX and FTSE 100 were marginally higher despite these comments.
Gold falls to a 4-month low
Many shoppers looking for Black Friday discounts may have searched on Amazon, eBay and other online retailers, however for traders it was Gold which offered the biggest sale.
Gold Prices dropped by close to $40 in today’s session, as bears continued to short the metal, leading to XAUUSD trading at its lowest level since July.
Prices of the metal fell to an intraday low of $1,774, falling below the 200 EMA for the first time since March.
Quote of the day – “The massive efforts you make today, will set you up for tomorrow”Tim Furey
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Senior Market Analyst