"The greatest near-term risk to the economy and labor market remains the looming fiscal cliff"
- Jim Baird, chief investment strategist for Plante Moran Financial Advisors
The U.S. stock markets were closed on Thursday due to the Thanksgiving Day holiday, while Friday's session is going to be abbreviated. Millions of people lined the streets of New York on Thursday in order to watch the 86th Thanksgiving Day Parade.
On Wednesday, Standard & Poor's rose 0.23 per cent to 1,391.03. The Dow Jones Industrial Average gained 0.38 per cent, or 78.38 points, to 12,836.89. The Nasdaq Composite surged 0.34 per cent to 2,926.55.
"As it has during turbulent times in our history, we hope the Macy's Parade serves as a beacon of hope for all who tune in and gather with friends and family to give thanks this season, as they continue to heal from the devastating aftermath of Superstorm Sandy," Amy Kule, the parade's executive producer, said in a statement.
"Coming here is a good distraction," said Tamis, who lives in Smithtown, New York. "A lot of people are coming to get away from it."
"The greatest near-term risk to the economy and labor market remains the looming fiscal cliff," said Jim Baird, chief investment strategist for Plante Moran Financial Advisors.
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