Closing BellHere's what happened on Wall Street on Friday, Nov. 24.
All three major averages closed the day in the green as trading ended early on Friday.
Both the Nasdaq and S&P 500 closed the day at record highs, up 0.32% and 0.21%, respectively.
The Dow Jones Industrial Average finished the shortened trading session higher 0.14%.
Black Friday Online Sales SurgeOnline spending on Black Friday this year is higher by 18.4%, while mobile purchases have accounted for 46.2% of revenue, according to data compiled by Adobe.
The firm also found that online spending on Thanksgiving is up 18.3% year-over-year and that online sales overall are higher 17.9% -- to $33.6 billion for November through yesterday.
Weatherford International Exploring Sale of AssetsHouston-based oil and gas well-drilling company Weatherford International ( WFT) has hired advisers including Morgan Stanley to explore the sale of assets during the first quarter of 2018, Reuters has learned.
Weatherford is reportedly looking to sell its artificial lift business, the wellheads and the drilling tools units and the international pressure pumping assets. Potential bidders are said to include Superior Energy Services and Canada's pressure pumper Calfrac.
Shares of Weatherford were climbing nearly 3% during mid-morning trading on Friday.
Holiday Season Shopping TrendsWith Black Friday underway across the country, results are starting to pour in highlighting several shopping trends this year.
Overall, Americans are expected to spend between $679 billion and $682 billion in November and December this year. And, if retail sales were spread evenly throughout the year, November and December would account for 16.7% of each year's total sales, according to market research company Statista.
Retail sales for the first two weeks of the holiday shopping season are up 6% across general merchandise categories, but much of the spending has been on things the consumer wants for themselves rather than others, market research company NPD found.
The firm also noted that dollar sales in the second week of November were higher by 9% over the previous year. The categories of Small Home Appliances, Prestige Beauty, Apparel and Athletic Footwear each saw double-digit dollar growth versus last year.
Mahindra, Uber Partner to Launch Electric Vehicles in IndiaIndian automaker Mahindra ( MAHMF) and ride-hailing giant Uber on Friday announced a partnership to develop and deploy electric vehicles in India.
"Aligned with the government's vision, we aim to build a more sustainable future of mobility, moving more people needing on-demand services with fewer, fuller, and more efficient vehicle trips. We see a key role for high-efficiency vehicle technologies, and therefore believe that this collaboration with Mahindra, the pioneers in the electric vehicles space, will be truly beneficial not just for Uber but for our driver partners, riders and the cities we operate in," said Madhu Kannan, Chief Business Officer, Uber India & Emerging Markets.
The two companies will initially roll out hundreds of vehicles in Delhi and Hyderabad. They will utilize Uber's electric vehicle platform and Mahindra's e2oPlus hatch and the eVerito sedan. As the partnership progresses, Uber and Mahindra will expand the program to other Indian cities.
PremarketU.S. stock futures were climbing higher on Friday, Nov. 24, as retailers and consumers prepare for the busiest shopping season of the year during a shortened Black Friday trading session.
Dow Jones Industrial Average futures gained 55 points, or 0.23%. S&P 500 Index futures rose 8 points, or 0.29%, and Nasdaq futures increased 11 points or 0.18%.
U.S. stock markets will close Friday at 1 p.m. ET, three hours earlier than normal.
In Europe, stocks are higher, with the DAX in Germany up 0.25%, and the CAC 40 in France higher 0.37%, but the FTSE is down 0.2% thanks to a stronger pound.
In Asia, the Nikkei 225 was up 0.12%, the Shanghai Composite was higher 0.06%, and the Hang Seng Index was higher 0.53%.