The S&P 500 ticked higher to a new record to begin December trading as investors looked for stocks to add to big November gains.
The blue-chip index declined 180.13 points to 44,730.52
The broader index nicked ahead 8.54 points to 6,040.92.
The NASDAQ Composite spiked 169.52 points to 19,387.62.
Intel jumped 5% after CEO Pat Gelsinger retired after four years of underperformance at the chipmaker. Shares of Tesla gained 2% following an upgrade to buy from neutral at Roth MKM, with the firm citing as a catalyst Musk’s close relationship with President-elect Donald Trump.
November marked the best month of 2024 for Dow, which gained 7.5% and S&P 500, with the improving 5.7% for the period. Most of the gains came in a post-election rally after President-elect Donald Trump emerged as the winner. Both of the indexes notched closing highs in
Friday’s shortened trading session.
Bitcoin, which traded near $99,000 on Friday following a 38% surge in November, retreated to around $95,000 on Monday as investors were in a bit of a risk-off mood to start the month.
Prices for the 10-year Treasury jumped, lowering yields to 4.24% from Friday’s 4.18%. Treasury prices and yields move in opposite directions.
Oil prices gained 32 cents to $68.32 U.S. a barrel.
Prices for gold slipped $14.60 an ounce to $2,666 U.S.
