The S&P 500 ticked higher to a new record to began December trading as investors looked for stocks to add to big November gains.
The Dow Jones Industrial index declined 159.21 points to 44,751.44
The broader index nicked ahead 14.53 points to 6,046.91.
The NASDAQ Composite spiked 194.67 points, or 1%, to 19,412.83.
Intel jumped 4% after CEO Pat Gelsinger retired after four years of underperformance at the chipmaker. Shares of Tesla gained 3% 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.
AI server maker Super Micro Computer surged 31% after a special committee found “no evidence of misconduct” and that the firm’s financial statements were “materially accurate.”
November marked the best month of 2024 for Dow, which gained 7.5% and S&P 500, with the index 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 fell a bit, raising yields to 4.19% from Friday’s 4.18%. Treasury prices and yields move in opposite directions.
Oil prices fell 17 cents to $67.83 U.S. a barrel.
Prices for gold slipped $17.90 an ounce to $2,663.10 U.S.
