Volume Light Before Thanksgiving

On Wednesday, the Nasdaq notched its 5th up day in a row, rising +27 points (+0.67%) and extending its record highs. Both the S&P and Dow sold off during the noon hour, but recovered enough to end the day about flat. The S&P closed up 4 points (+0.25%) and the Dow gained +24 points (+0.15%). Volume on Wednesday was below average and less than Tuesday's volume, not surprising for the day before Thanksgiving.

Some mixed economic numbers were released on Wednesday. The Consumer Confidence Index fell to 70.4 in November, down from 72.4 in October, and Initial Jobless Claims dropped to 316,000 for the week ending November 23 (down from 326,000 November 16). Durable goods orders fell 2.0% in October. University of Michigan Consumer Sentiment Index for November was revised up to 75.1, a solid increase in sentiment from 73.2 in October.  

On Friday, the market will be open a half day, so trading should be fairly light.