The Thanksgiving Holiday Could Mean A Light Week Of Trading

The Thanksgiving Holiday Could Mean A Light Week Of Trading

Stocks appear to be shrugging off increased pandemic restrictions in Europe because the equity index futures are pointing to higher open sparked by the positive tone set in European markets. It appears to be a positive tone on a holiday week. As usual, the market will be closed on Thursday for the Thanksgiving holiday and then open for a half day on Friday. This commonly results in lighter volume throughout the week so investors should be careful trading and consider smaller position sizes. This morning President Biden renominated Fed Chair Jerome Powell to maintain his position at the Federal Reserve and Lael Brainard as vice chair. CNBC reports that while a few Democrats have already spoke out against the nomination, it's likely that Powell will see bi-partisan support because of Powell's Republican background and generally positive approval of his performance. Speaking of the Fed, Atlanta Fed President Raphael Bostic said in a speech last week that the Fed may need to taper faster. The comments appear be strengthening the dollar. A quicker taper could result in an interest rate hike sooner than expected. EV makers continue to make news. Tesla (TSLA) was up 2. 4% in premarket trading after CEO