NEW YORK, New York - U.S. stocks closed higher on Friday, the last trading day of November, as traders returned to work after taking Thursday off for the Thanksgiving holiday.

All the indices were in positive territory when markets closed early on Friday, at 1pm, all ahead more than half-a-percent.. 

"The mood is back to a bit more of a risk-on sentiment in that the market is now 80 percent to 85 percent certain we're going to get a rate cut in just a couple of short weeks," Brian Mulberry, client portfolio manager at Zacks Investment Management, told CNBC Friday.

After reducing rates in September and October, it would mark 3 cuts in a row if the Fed reduces rates in December.

"It's simply confirming that we are in an easing trend and that it will continue into the new year as well," Mulberry said.

Technology stocks led broader market strength, pushing the NASDAQ Composite up 151.00 points, or 0.65 percent, to 23,365.69, as investors continued to channel funds into growth-oriented and artificial intelligence–linked shares.

The Dow Jones Industrial Average posted a strong gain, rising 289.30 points, or 0.61 percent, to finish at 47,716.42. The blue-chip index moved between 47,475.61 and 47,750.77 during the session, with turnover of about 265.677 million shares.

The Standard and Poors' 500 advanced 36.48 points, or 0.54 percent, to close at 6,849.09. The benchmark index traded between an intraday low of 6,819.75 and a high of 6,850.86, remaining near record territory. Trading volume totalled approximately 1.453 billion shares.

Global Currencies Mixed on Friday as U.S. Dollar Remains Directionless Against Majors

Major currencies finished Friday's trading session mixed against the U.S. dollar, with the greenback holding broadly steady as traders weighed economic data, shifting interest rate expectations and end-of-week positioning.

The euro weakened marginally against the U.S. dollar, with the EUR/USD pair slipping 0.01 percent to trade at 1.1593. Modest selling pressure on the single currency came as investors remained cautious about the near-term growth outlook across the eurozone.

The Japanese yen also eased Friday, with the U.S. dollar rising 0.03 percent against the yen to 156.23. The yen continues to struggle amid the wide interest rate gap between Japan and the United States, despite periodic speculation over potential policy intervention.

The Canadian dollar strengthened, pushing the U.S. dollar down 0.30 percent to 1.3986 against the loonie. The move reflected support from energy prices and renewed demand for commodity-linked currencies.

The British pound softened, with GBP/USD falling 0.07 percent to 1.3228, as traders locked in profits following recent gains and assessed the outlook for U.K. monetary policy.

The Swiss franc firmed modestly on Friday, with the U.S. dollar slipping 0.11 percent to 0.8037 against the franc, reflecting continued demand for safe-haven assets toward the close of the week.

In the Australasian currencies, the Australian dollar strengthened, with AUD/USD rising 0.19 percent to 0.6545, supported by improved risk sentiment. The New Zealand dollar also edged higher, with NZD/USD up 0.06 percent at 0.5731.

Overall, currency markets closed the week with the U.S. dollar trading in narrow ranges, as investors balanced expectations for global interest rates, inflation trends and upcoming economic data releases that could shape direction into the new trading week.

Global Share Markets Mixed at Close Friday as Canada, UK and Europe Edge Higher, while Asia Sees Losses

Major share markets across the UK and Europe closed modestly higher Friday, together with Canadian indices, while Asian markets delivered a mixed to weaker performance in the latest session as investors weighed regional economic signals and profit-taking pressure.

In Canada, the S&P/TSX Composite Index also closed higher, climbing 150.01 points, or 0.48 percent, to 31,346.72, supported by gains in the financials and materials sectors. Volume on the Toronto market reached approximately 91.118 million shares.

In London, the FTSE 100 ended the day higher, rising 26.58 points, or 0.27 percent, to close at 9,720.51. The index traded between a low of 9,693.95 and a high of 9,740.24 during the session.

Germany's DAX also posted gains, adding 68.83 points, or 0.29 percent, to finish at 23,836.79, after moving between 23,720.56 and 23,883.98.

In France the CAC 40 climbed 23.24 points, or 0.29 percent, to 8,122.71, while the broader EURO STOXX 50 advanced 15.00 points, or 0.27 percent, to 5,668.17.

The Euronext 100 Index followed suit, rising 4.88 points, or 0.29 percent, to 1,704.49.

In Belgium the BEL 20 was the only notable European decliner, on Friday slipping 2.54 points, or 0.05 percent, to 5,036.86.

Asian markets showed more caution. In Hong Kong, the Hang Seng Index fell 87.04 points, or 0.34 percent, to close at 25,858.89.

South Korea's KOSPI recorded sharper losses, tumbling 60.32 points, or 1.51 percent, to 3,926.59.

In Malaysia the FTSE Bursa Malaysia KLCI dropped 12.99 points, or 0.80 percent, to 1,604.47, while Indonesia's IDX Composite retreated 37.16 points, or 0.43 percent, to 8,508.71.

Japan's Nikkei 225 managed a narrow gain Friday, adding 86.81 points, or 0.17 percent, to close at 50,253.91.

In Taiwan the TWSE Weighted Index strengthened, rising 71.95 points, or 0.26 percent, to 27,626.48.

Singapore's STI Index also finished higher, up 14.62 points, or 0.32 percent, at 4,523.96.

In China, the Shanghai Composite Index gained 13.34 points, or 0.34 percent, to close at 3,888.60.

In the Australasian region on Friday, the S&P/ASX 200 edged lower, shedding 3.20 points, or 0.04 percent, to end at 8,614.10, while the broader All Ordinaries finished slightly higher, adding 6.70 points, or 0.08 percent, to 8,918.70.

Across the Tasman, New Zealand's S&P/NZX 50 Index outperformed locally, jumping 56.95 points, or 0.42 percent, to 13,489.15.

Elsewhere, India's S&P BSE Sensex closed marginally lower, down 13.71 points, or 0.02 percent, at 85,706.67.

Midldle East markets were mostly closed on Friday and will reopen on Sunday.

In Africa, South Africa's Top 40 USD Net TRI Index rose 35.23 points, or 0.55 percent, to 6,480.49.

Overall, UK and European equities showed steady strength, supported by broad-based buying, while several Asian markets retreated amid regional headwinds and profit-taking. Markets were quieter towards the end of the week with the U.S. taking Thursday off for Thanksgiving, and closing 3 hours early on Friday.

(This report incorporates quotes retrieved with the assistance of artificial intelligence).

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