Saturday, 24 November 2007

Wall Street on the rise

U.S. stocks on the rise Friday after a vacation day postponement of the markets' recent struggles.

The Dow Jones industrial average gained 0.7 percent. The tech heavy Nasdaq composite index jumped 0.7 percent. The Standard & Poor's 500 index rose 0.7 percent.

Earlier, lower oil prices offered impetus to the stock markets futures. Light, sweet crude for December delivery pulled back in his March to 100 dollars per barrel, and 62 cents to 96.67 dollars per barrel in electronic trading.

But the mood could be a disadvantage for the U.S. fears of slowing growth linger.

Investors were avoiding risk amid growing fears that the American economy into a recession. On Wednesday, stocks fell and the benchmark 10-year Treasury yield dropped below 4 percent for the first time since 2005 as investors sought safety.

Trading is expected to be light with an early close for the U.S. markets on Friday. Exchanges on 1 pm ET, and bond markets closed at 2 pm ET. Markets were closed Thursday Thanksgiving.

No major economic reports or tap the earnings, but investors are likely to focus their attention on the retail trade, with the beginning of the critical holiday shopping season under way.

Black Friday, the day after Thanksgiving, when retailers usually start it profitable for the year began with a bang. Several shoppers lined up early for deep discounts.

Companies also focus on Wal-Mart (Charts Fortune 500), JC Penney (Charts Fortune 500), Best Buy (Charts Fortune 500), and Macy's (Charts Fortune 500).

In corporate news, Goldman Sachs (Charts Fortune 500) reported, is aiming to raise a $ 6 billion hedge fund. The "Financial Times" said that when the investment bank is close to that goal, it would be one of the largest ever launched. Barry Diller's IAC / Interactive Corp. (Charts Fortune 500). Plans to invest 100 million dollars for its services in China. Diller said the company is planning to introduce its Ask.com search in the country within two years.

In global trade, European markets rose in the lunch-time trade, followed by deals. Asian markets closed mostly higher. Japan markets were closed for a holiday.