Stock futures rise slightly as market enters holiday-shortened week

A trader during the Sweetgreen initial public offering in front of the New York Stock Exchange in New York, on Thursday, Nov. 18, 2021.Stock futures rose slightly in overnight trading on Sunday ahead of the holiday-shortened week, a historically seasonally strong period for Wall Street.

U.S. markets will be closed Thursday on Thanksgiving Day. The stock market closes early at 1 p.m. ET on Friday., which will potentially set the stage for a year-end Santa rally. One big market-moving event this week will be President Joe Biden's nomination for the next Federal Reserve chief. "I do think in the shortened week, that is probably going to be the biggest driver of market action," said Jeff Schulze, ClearBridge Investments investment strategist. "If Brainard is nominated as Fed chair, it wouldn't be a surprise to me to see some near-term volatility. Usually, the market tests a Fed chair."

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