S&P 500 Logs Second-Straight Record Close

Lackluster jobs data kept benchmarks from momentum today

Digital Content Manager
Dec 2, 2020 at 4:30 PM
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Stocks were relatively muted today, after disappointing jobs data as well as a stimulus stalemate weighed heavy on investors' minds. After spending most of the morning in the red, the Dow was able to sneak back into the black in the final hours of trading. Despite Salesforce.com (CRM) plummeting after acquiring Slack (WORK) for $27.7 billion, the blue-chip index was instead propped up by outsized gains from the likes of Boeing (BA), Goldman Sachs (GS), and Chevron (CVX). Elsewhere, a marginal win for the S&P 500 helped the benchmark secure a second-straight record close, while the tech-heavy Nasdaq finished the day slightly lower.

Continue reading for more on today's market, including:

  • NetApp stock has recovered nicely from its pandemic losses.
  • Here is why DocuSign stock should be on your radar.
  • Plus, Kohl's stock attracts bull notes after Sephora partnership; software stock plummets amid buyout buzz; and a bullish Teladoc stock signal.

The Dow Jones Industrial Average (DJI - 29,883.79) gained 59.9 points, or 0.2% on the day. BA led the Dow components with a 5.1% rise, while CRM paced the laggards, falling 8.5%.

Meanwhile, the S&P 500 Index (SPX - 3,669.01) earned 6.6 points, or 0.2%, for the day. The Nasdaq Composite (IXIC - 12,349.37) was down 5.74 points, or 0.1% for the day.

Lastly, the Cboe Volatility Index (VIX - 21.17) fell 0.4 point, or 1.9% for the day.

Closing Summary Dec 2

nyse nasdaq dec2

  1. Senate Majority Leader Mitch McConnell and House Majority Leader Steny Hoyer will discuss a coronavirus relief package for the second time this week. (CNBC)
  2. The Justice Department is investigating a potential plot to lobby White House officials for a pardon, and exchange contributions for clemency. (MarketWatch)
  3. Kohl's stock attracted a slew bull notes after announcing Sephora partnership.
  4. Bears blasted this blue-chip software stock following buyout news.
  5. History says Teladoc stock could soon swing higher.

EarningsDec2

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Gold, Oil Prices Surge in Response to New Stimulus Talks

Oil prices rose to end the day, after reports indicated the Organization of the Petroleum Exporting Countries and its allies (OPEC+) will extend current production cuts into 2021. As a result, January-dated crude added 73 cents, or 1.6%, to settle at $45.28 a barrel.

Meanwhile, gold prices finished higher for the second consecutive time this week, thanks in part to renewed coronavirus relief package hopes in the U.S., and regardless of Treasury yields seemingly offsetting gains. In addition, buyers betting on physical gold being a popular gift during the holiday season could be giving prices a boost. In turn, February-dated gold rose $11.30, or 0.6%, to settle at $$1,830.20 an ounce for the day.

 

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