Tech Powers Nasdaq, S&P 500 to Record Closes

The Dow sat out today's rally, shedding triple digits

Patrick Martin

Managing Editor

Dec 2, 2024 at 4:28 PM

Tech was the story to start December, with the Nasdaq nabbing a record close and sixth win in the last seven sessions. The S&P 500 followed suit with a record close of its own, and has now rattled off nine wins in the last 10 trading days. The Dow sat out today's rally, shrugging off November manufacturing data that improved month-over-month but remains in contraction. Against this backdrop, the Cboe Volatility Index (VIX), Wall Street's "fear gauge," logged its lowest close since July 16.

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

This tech stock outperforms in December.
Analysts getting bullish on cloud stocks.
Plus, a big month ahead for Salesforce; Stellantis struggles; and UPST cools off.

closing summary dec2

nyse nasdaq dec2

5 Things to Know Today

Fed Governor Chris Waller supports an interest rate cut this month. (MarketWatch)
Black Friday spending in the U.S. rose 3.4% year-over-year. (Reuters)
Salesforce and 24 other stocks that struggle in December.
C-suite shakeup dings auto stock.
Upstart stock tests support after downgrade.

There were no earnings of note today.

Gold Nabs Another Record High

Oil prices were flat today, as demand remains high in China after the latest manufacturing data. For the session, January-dated West Texas Intermediate (WTI) crude rose 10 cents, or under 0.2%, to settle at $68.10 per barrel.

Gold prices hit record highs today, continuing their unprecedented run against rising bond yields. For the session, gold for December delivery added 0.8% to settle at $2,658 an ounce.

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