Nasdaq, S&P 500 post record closing highs; investors await more data
Tue December 3, 2024 7:32 PM
The indexes started the day in the red, the Dow down over 200 points by noon, then slowly recovered to modest gains in tech but still in the red for industrials. The tech indexes, already at records, achieved new records again as positive Fed comments further stoked optimism of a December rate cut, today with odds set at 72%. However, there is still considerable fence-sitting as investors await some critical reports later this week including the ISM and employment reports due Friday. The Fed has indicated that inflation continues to head towards the 2% target and that the job market is solid. The S&P advanced 5.7% in November and is up 27% YTD. With the fence-sitting, volume remains below the 14.8 billion average, coming in at 12.7 billion.
DJ: 44,782.00 -128.65 NAS: 19,403.95
+185.78 S&P: 6,047.15 +14.77 12/2
DJ: 44,705.53 -76.47 NAS: 19,480.91 +76.96 S&P: 6,049.88 +2.73 12/3
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