American stocks rose slightly Friday, tempering the worst Thanksgiving-week loss for the S&P 500 since 1973, according to Bloomberg.
The S&P rallied by less than a percent, up nearly 9 points at 11:25 a.m. during thin post-Thanksgiving Day trading. The rally occurred after more positive reports came out of the European Union regarding the struggling Euro.
The S&P had dropped nearly 4 percent over the last five days.
Similarly, the Dow and NASDAQ are both enjoying slight gains on the day, with a rise of 0.75 percent and 0.33 percent, respectively, at 11:15 a.m.
U.S. financial shares “had been knocked down dramatically and there’s a better tone today,” Richard Sichel, who oversees $1.6 billion as chief investment officer at Philadelphia Trust Co., told Bloomberg. “We have to hope they can get their act together in Europe and we go back to concentrating on what we’re doing here.”
The markets opened for a shortened day of trading, and the closing bell is scheduled to ring at 1 p.m.
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