Market on holiday

US stock indices ended the shortened week with an increase.

The stock and bond markets will be closed on Friday, Christmas Eve.

There will also be no futures trading on Friday. Trading will resume Sunday at 6 p.m. ET.

Asian stock markets were mixed on Friday after Wall Street hit a new high due to easing fears over a variant of the coronavirus omicron.

The Nikkei 225 in Tokyo fell less than 0.1%, the Hang Seng in Hong Kong rose 0.1% and the Shanghai Composite index was down 0.7%.

European markets will trade in a shortened session. The London Stock Exchange will be closed on Monday and Tuesday due to the holidays.

The S&P 500 Wall Street index rose 0.6% to 4,725.79 on Thursday, surpassing the record on December 10. The index ended the week up 2.3%.

Investor concern increased as Omicron spread but eased after authorities said it could cause a less serious illness. President Joe Biden called for more vaccinations and tests but did not announce plans for travel restrictions.

The Dow Jones Industrial Average index rose 0.6% to 35,950.56 and the Nasdaq composite index added 0.8% to 15,653.37.

The Labour Department said the number of Americans filing for unemployment benefits was unchanged last week, indicating a strong recovery in the labour market.

The Commerce Department said on Thursday that US consumer spending rose 5.7% in November from a year earlier, the fastest pace in 39 years.