US benchmark stock indexes rallied during midday trading on Friday, as the S&P 500 and the Dow Jones Industrial Average reached fresh highs ahead of an early market close at 1 PM ET. The S&P 500 increased by 0.7% to 6,040.5, while the Dow Jones also rose by 0.7% to 45,046.8. Additionally, the Nasdaq advanced 0.8%, reaching 19,215.7.
All sectors showed positive performance intraday, particularly driven by technology and consumer discretionary sectors. Traders are awaiting the October farm prices report, which is scheduled to be released at 3 PM ET. In corporate news, shares of Nano Nuclear Energy saw a gain of more than 3% during Friday's trading session.
This spike followed the company's announcement on Wednesday that it successfully completed a $60 million private placement of common shares and warrants. Meanwhile, Amazon.com employees in India participated in a protest, coinciding with Black Friday, where they called for higher wages and better working conditions.
Reports indicate that around 200 warehouse workers and delivery drivers joined a rally in New Delhi led by the Amazon India Workers Union. In response to the strike, Amazon India issued a statement to MT Newswires, asserting that the company has not experienced any significant impact on operations due to the protest.
They emphasized that they provide "fair and competitive" wages while complying with applicable wage laws. Despite the strike, Amazon's shares rose 0.5% by midday. In market analytics, the US 10-year Treasury yield decreased by 5.7 basis points, settling at 4.21%. The two-year yield also fell, down 4.7 basis points to 4.19%.
The bond market is expected to close early at 2 PM ET on Friday. The US Dollar Index dipped 0.1% to 106.08. In commodity trading, West Texas Intermediate crude increased by 0.1% to $68.79 per barrel. Gold prices rose by 0.8%, reaching $2,685.60 per ounce, while silver climbed 2% to $31.18 per ounce..