Stock Futures – Tech Stocks Buying and selling Defies Vacation Doldrums In Busy Week

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Buying and selling quantity, even in sizzling areas equivalent to tech stocks, notoriously dip within the days forward of the U.S. Thanksgiving vacation. Not this yr.

Quantity on the tech-heavy Nasdaq Composite Index averaged 1.07 billion shares per day by way of Wednesday — making it the largest lead as much as Thanksgiving since 2004 and virtually double the quantity of final yr, when about 580 million of shares had been traded, in accordance with knowledge compiled by Bloomberg.

With journey and different gathering restrictions in place all through giant parts of the U.S., day merchants and different self-directed buyers might need simply turned to the evergreen tech sector to remain occupied forward of the vacation break, analysts mentioned.

“Retail self-directed investors are back and they are re-engaged again,” mentioned John Christofilos, senior vice-president and chief buying and selling officer at AGF Investments Inc., mentioned by telephone. “It went a little bit quiet through the summer and now it looks like they’ve re-engaged.”

Learn extra: ‘Very, Very Busy Week’ Wipes Out Merchants’ Regular Vacation Doldrums

U.S. stock markets had been closed on Thursday, however futures contracts on the S&P 500 fell 0.3% throughout holiday-shortened buying and selling hours, whereas these on the Nasdaq had been little modified.

(Updates U.S. stock futures strikes in final paragraph.)