Dow Jones hits record high, posts best weekly gains in 2 years

US indices ended Friday's shortened trading session following the Thanksgiving holiday in the green. The rally was supported by a decline in Treasury yields, as investors anticipate upcoming labor market data next week. These data are expected to provide further insight into the Federal Reserve's future policy direction.

The Dow Jones Industrial Average rose 0.4%, or 188 points, to settle at 44,910 points, with weekly and monthly gains of 1.4% and 7.55%, respectively.

The S&P 500 index advanced 0.55%, or 33 points, to 6,032 points, recording weekly and monthly gains of 1% and 5.75%, respectively.

Similarly, Nasdaq added 0.85%, or 157 points, to close at 19,218.

As for European markets, the STOXX Europe 600 inched up 0.6% to 510.2 points.

The British FTSE index kept flat at 8,287 points, while the French CAC 40 index rose 0.8% to 7,235 points. The German DAX index was up 1% to 19,626 points.

The Nikkei index fell 0.35% to 38,208 points, and the broader Topix index lost 0.25% to 2,680 points.

Brent crude futures for January 2025 delivery rose 0.15%, or $0.11, to $72.94 per barrel.

Meanwhile, the US West Texas Intermediate (WTI) crude futures for January 2025 delivery decreased over 1%, or 72 cents, to $68 per barrel.

Regarding gold, futures prices for December delivery were up 1.55%, or $41.1, to $2,681 per ounce.