Stocks open mixed on Black Friday, S&P 500 down less than 0.2%

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Stocks open mixed on Black Friday, S&P 500 down less than 0.2%

Stocks opened mixed on a shortened day of trading on Black Friday.

The S&P 500 was down less than 0.1%, the Dow was up 0.2% and the Nasdaq was off by about 0.5%.

The U.S. stock market will close at 1: 00 p.m. Financial markets in the U.S. were closed Thursday for Thanksgiving.

After the minutes from the Fed's latest meeting signaled a slowdown in the pace of rate hikes at the central bank's December meeting, stocks finished with gains on Wednesday, the week's final full trading session.

Consumer spending was up 0.1% over the last year during the first three weeks of November, according to the data from Adobe Analytics.

Energy markets remain in focus for investors, with WTI crude oil up about 0.5% after a move higher by nearly 3% early Friday, a rebound that follows Wednesday's slide in oil prices back towards 2022 lows.

In overseas markets, stocks in Europe were on pace to record a sixth straight week of winning.

The People's Bank of China is going to cut its reserve requirement for the second time this year in an effort to stimulate the economy, according to investors.

The dollar staged a modest rally early in Friday, after weakening earlier this week.

After a 25% gain on Wednesday, Manchester United MANU shares were up as much as 9% early Friday as reports swirled about the possible sale of the English football club by the Glazer family, which also owns the Tampa Bay Buccaneers.

Since 1950, the S&P 500 has been higher 81% of the time since 1950 during the period from Tuesday before Thanksgiving to the second trading day of the new year. The index gains 3.8%, on average, when stocks rise during this period.