US Stock Market Preview: Indices Rise, Early Close, Chip Prices Expected to Increase 50%

US Stock Futures Rise Ahead of Thanksgiving Holiday

On Friday, US stock index futures saw a collective rise ahead of the Thanksgiving holiday, with the market closing early today. The Dow futures increased by 0.11%, while the Nasdaq futures fell by 0.18%, and the S&P 500 futures rose by 0.10%. The US stock market will be closed on November 27, resuming regular trading hours today but closing three hours early.

Pre-Market Movements in Tech Stocks

Most major tech stocks saw gains in pre-market trading. Micron Technology rose nearly 3%, Google increased over 1%, while Meta, Microsoft, and AMD saw gains close to 1%. Nvidia, Broadcom, and Tesla experienced slight increases, whereas Oracle fell over 1%.

Chinese Stocks and Cryptocurrency Trends

Chinese stocks also showed positive trends in pre-market trading. The Nasdaq Golden Dragon China Index dipped slightly by 0.03%. Notable gainers included Bawang Chaji, which rose over 2%, and NIO and Xpeng, both up nearly 2%. Pinduoduo and JD.com increased by over 1%, while Alibaba fell close to 1%.

In the cryptocurrency sector, Bitcoin surged back above $91,000, and Ethereum rose over 0.5%.

Storage Chip Market Insights

The global shortage of storage chips is intensifying, with research institutions predicting a further 50% increase in prices. Major companies like Dell and HP have warned of potential price hikes due to rising costs and chip shortages.

Retail Sales Forecast for Holiday Season

As the holiday shopping season kicks off with Black Friday, the National Retail Federation (NRF) anticipates that 186.9 million Americans will shop over the Thanksgiving weekend, setting a new record. However, sales growth is expected to slow to between 3.7% and 4.2%, down from last year's 4.8% increase.