The S&P 500 and Nasdaq 100 closed at record highs to kick off December trading, gaining 0.2% and 1.1%, respectively, driven by large-cap tech stocks, while the Dow Jones slipped 128 points.
Leading sectors included communication services, consumer discretionary, and technology, while real estate lagged. Tesla rose 3.4% after unveiling an update to its "Full Self-Driving" software, Super Micro Computer surged 28.7% following the validation of its financial reports, and Amazon gained 1.4% amid strong Cyber Monday momentum.
Investors are closely monitoring upcoming economic data, including PMIs, JOLTs, and jobs reports, as the ISM Manufacturing PMI pointed to a milder factory contraction.
November was a strong month, with the S&P 500 and Dow up 5.7% and 7.5%, respectively, fueled by a postelection rally. However, thin trading volumes, an inverted yield curve, and Friday's nonfarm payrolls report keep attention on potential Federal Reserve moves, including a possible 25bps rate cut.
Source : Trading Economics
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