Tech stocks propel S&P 500 to record high, while Intel falls after CEO's retirement.

Technology stocks lifted the S&P 500 to a new record high on Monday, up 0.2%, marking the 54th record this year. The Nasdaq gained 1%, while the Dow fell 0.3%. Super Micro Computer surged 28.7% after an investigation cleared its management of misconduct. Major tech firms like Microsoft and Meta Platforms also contributed to the gains, rising by 1.8% and 3.2%, respectively. Intel fell 0.5% following CEO Pat Gelsinger's retirement announcement. Retailers had mixed results, with Target and Walmart showing varied performances. Treasury yields remained steady, and the U.S. dollar appreciated against the euro. Key job market updates are expected this week, potentially influencing the Federal Reserve's interest rate decisions.

December 02, 2024
69 Articles