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Dow rises 150 points as Wall Street looks to close out winning week - CNBC

Dow rises 150 points as Wall Street looks to close out winning week - CNBC

Dow rises 150 points as Wall Street looks to close out winning week - CNBC
Nov 25, 2022 1 min, 51 secs

The Dow Jones Industrial Average rose Friday as Wall Street pushed for solid gains during the holiday-shortened trading week.

The Dow Jones Industrial Average rose 181 points, or 0.53%.

The S&P 500 gained 0.06% and the Nasdaq Composite slipped 0.40%, weighed down by shares of Activision Blizzard, which fell more than 4% on news that the FTC could block Microsoft from taking over the gaming company.

Stocks jumped on the news Wednesday, notching the second consecutive day of gains in a week marked by choppy trading and low volumes.

Activision Blizzard – Shares of the video game company slid more than 4% after Politico reported the Federal Trade Commission is likely to sue to block Microsoft's $69 billion acquisition of Activision Blizzard.

Stocks were on pace for a weekly gain in midday trading Friday, during a shortened day and week due to the Thanksgiving holiday.

Stocks opened little changed on Friday ahead of the short trading day as Wall Street looks to close out a winning holiday week.

The Dow Jones Industrial Average rose 19 points, or 0.09%.

Futures on the Dow Jones Industrial Average rose 18 points, or 0.05%.

S&P 500 futures lost 0.07% and Nasdaq 100 futures slipped 0.40%, weighed down by shares of Activision Blizzard, which fell in premarket trading on news that the FTC could block Microsoft from taking over the gaming company.

The Dow is 9.1% above its 50-day moving average, Bespoke said in a tweet on Friday.

That is the highest since June 2020 and only the eight time since 1990 that it has been at least 9% above the moving average.

The 50-day moving average is one benchmark that traders use to predict short-term market moves.

When an average is abnormally above its moving average, it could be a sign that it is overbought.

Here's some of the stocks making the biggest premarket moves Friday during a shortened trading day.

Manchester United (MANU) – Shares of the soccer team jumped another 10.8% after posting two double-digit rallies on Tuesday and Wednesday following reports earlier in the week that it was considering strategic options, including a possible sale.

Shares of Amazon were little changed in Friday premarket trading.

Activision Blizzard shares shed 3.7% before the bell Friday on news that Microsoft's roughly $69 billion takeover of the company faces potential antitrust scrutiny?

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