US stocks fall in shortened trading session after Thanksgiving

NEW YORK, New York - US stocks ran into heavy weather in a shortened trading session on Friday, a day after Thanksgiving.

The Federal Reserve will slow down its aggressive rate hiking program soon, and the day started upbeat with indications that it will slow its aggressive rate hiking program.

We are entering one of the seasonally bullish periods of the year and given the likelihood for a continued peak in inflation and dovish turn for the Fed soon, we are on the lookout for another strong end-of-year rally, according to Ryan Detrick, chief markets strategist at the Carson Group.

The Dow Jones industrials surged 152.97 points or 0.45 percent to close Friday at 34,347 and surged 152.97 points or 0.45 percent. The Nasdaq Composite fell by 58.96 points or 0.52 percent to 11,226, down 58.96 points or 0.52 percent. The 500 of Standard and Poor's fell by 1.14 points or 0.03 percent to 4,026. The U.S. dollar staged a mini-comeback but was waning towards the New York close. The euro was a bit lower at 1.0402 after hitting an earlier low of 1.0354. The British pound was down marginally at 1.2084, after dropping to 1.2058 earlier in the day. The Japanese yen has softened to 139.08.

The Canadian dollar was down to 1.3378. The Australian dollar fell to 0.6746. The FTSE 100 in London gained 0.27 percent Friday on overseas equity markets. The Dax was flat in Germany, going up 0.01 percent. The Paris-based CAC 40 rose 0.08 percent.

In Japan, the Nikkei 225 fell by 100.06 points or 0.35 percent to 28,283. The Australian All Ordinaries gained 15.40 points or 0.21 percent to 7,447. In South Korea, the Kospi Composite fell by 3.47 points or 0.14 percent to 2,437. New Zealand's S&P NZX 50 climbed 60.85 points or 0.54 percent to 11,382. In Hong Kong, the Hang Seng retreated 87.32 points orm 0.49 percent to 17,573.