US sharemarkets posted gains on a shorter Friday following a day off for Thanksgiving, with the Dow and ending higher for the fifth session in a row for the first time since November 17, 2007.

US markets were closed on Thursday for Thanksgiving, while Friday's session ended at 1 pm.

At the close of trading, the Dow Jones industrial average gained 102.43 points, or 1.17 percent, to close at 8829.04, to bring the Dow's weekly gain to 800 points for the shortened Thanksgiving week. Friday was marks the first time the Dow has held gains for 5 consecutive sessions since Nov. 17, 2007.

The Standard & Poor's 500 index gained 8.56 points, or 0.96 percent, to close at 896.24, while the Nasdaq composite rose 3.47 points, or 0.23 percent, to close at 1,535.57.

The price of oil fell 1 cent to US$54.43 a barrel, while the price of gold rose US$7.17 to be worth US$819 an ounce on the COMEX index.

In currency trading, the dollar gained against the euro and the yen.

© NewsRoom 2008