Stocks in the US were higher on the first trading day of December, with the S&P 500 rising 0.2%, the Dow Jones adding 40 points and the Nasdaq gaining 0.6%. Traders await key economic data due this week including the ISM PMIs, JOLTs and the jobs report to assess the US economic performance and the Fed's plans for December.
The political situation remains in the spotlight with Donald Trump requiring a commitment from BRICS that they will neither create a new currency, nor back any other currency to replace the US dollar or they will face 100% tariffs. Consumer discretionary was by far the top performing sector while real estate booked the biggest loss. On the corporate front, shares of Tesla soared more than 3% after the company announced it was rolling out an update for its "Full Self-Driving" driver-assistance software. Intel also added 3.6% after its CEO retired.
Source: Trading Economics
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