S&P 500, Nasdaq post record highs as tech-related shares gain
Mon December 2, 2024 6:11 PM
The big dive that began in the last 15 minutes Friday, particularly on the Dow, continued in earnest right out the gate this morning with the industrials losing 200 points by 10:30 and staying in the red all day, though recovering some and closing down 128. This is also not too unsurprising considering the record-setting day the Dow enjoyed on Friday. And as goes industrials, tech usually goes in the opposite direction as risk-on becomes the order of the day with investors looking forward to what is assumed to be another rate cut this month as well as also assumed positive jobs reports.
The market is enjoying some seasonal strength but there is still a good deal of parsing going on between potential pro-business policies under Trump and inflation-stoking tariffs. As today’s expert put it, “I don’t see an explosive finish to the year. There’s just too much uncertainty to where we’re headed. No one is quite sure what the plan is economically with the new administration.” Today’s volume of 13.6 billion remains below the 14.7 billion average.
DJ: 44,910.65 +188.59 NAS: 19,218.17
+157.69 S&P: 6,032.38
+33.64 11/29
DJ: 44,782.00 -128.65 NAS: 19,403.95 +185.78 S&P: 6,047.15
+14.77 12/2
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