Dow Jones Industrial Average squeezes out another 400 point gain on Friday

• The Dow Jones gained another 400 points on Friday.
• After a brief lull, the major index is back into its post-election rally.
• Investors are pivoting out of the usual tech rally into consumer goods.

The Dow Jones Industrial Average (DJIA) has snapped its recent soft patch, extending its midweek bullish pivot into a firm Friday performance. The Dow Jones is on its way to finishing another trading week on the firmly bullish side, up around 1.8% from Monday’s opening bids but still a little shy of last week’s record highs near 44,485.

A firm print in US Purchasing Managers Index (PMI) figures helped to bolster investor sentiment on Friday. November’s Manufacturing PMI exceeded expectations, printing at 48.8 compared to October’s 48.5. The Services PMI component handily outperformed forecasts, coming in at 57.0. Median market forecasts called for a more sedate uptick to 55.3 from the previous month’s 55.0.