Nasdaq Topples 20k as Big Tech Bounces Back

The Dow sat out today's gains, logging its fifth-straight loss

Patrick Martin

Managing Editor

Dec 11, 2024 at 4:26 PM

Tech finally bounced back today, with the Nasdaq scoring a record close and toppling 20,000 for the first time ever. November's inflation data met expectations, which was all Big Tech needed to score outsized gains. The S&P 500 turned in a solid win of its own, while the Dow ultimately finished lower after trading on both sides of the aisle throughout the session. The blue-chip index is now stuck in a five-day skid.

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

Costco stock needs post-earnings pop.
What made this biotech stock break out?
Plus, biotechs buzzing; GM ditches robotaxi; and Duolingo stock downgraded.

indexes dec11

nyse nasdaq dec11

5 Things to Know Today

Keep an eye on European automakers in 2025. (MarketWatch)
Private equity is coming for the NFL. (Bloomberg)
3 more biotech stocks to keep an eye on.
General Motors stock stalled by robotaxi pivot.
Analyst pumps the brakes on Duolingo stock.

Gold Cheers Benign Inflation Data

Oil prices climbed above $70, boosted by tailwinds from China and potential U.S. sanctions against Russia. For the session, January-dated West Texas Intermediate (WTI) crude added $1.70, or 2.5%, to settle at $70.29 per barrel.

Gold prices stayed hot after the inflation data and reinforced rate-cut hopes. For the session, gold for December delivery added 1.4% to settle at $2,756.40 an ounce.

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