{"id":48497,"date":"2024-12-03T12:28:29","date_gmt":"2024-12-03T12:28:29","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-hit-record-highs-as-tech-surges\/48497\/"},"modified":"2024-12-03T12:28:29","modified_gmt":"2024-12-03T12:28:29","slug":"stock-market-today-sp-500-and-nasdaq-hit-record-highs-as-tech-surges","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-hit-record-highs-as-tech-surges\/48497\/","title":{"rendered":"Stock Market Today: S&#038;P 500 and Nasdaq Hit Record Highs as Tech Surges"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-hit-record-highs-as-tech-surges\/48497\/#Market_Overview_December_3_2024\" >Market Overview: December 3, 2024<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-hit-record-highs-as-tech-surges\/48497\/#Why_is_the_Market_Up_Today\" >Why is the Market Up Today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-hit-record-highs-as-tech-surges\/48497\/#Current_Market_Indexes\" >Current Market Indexes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-hit-record-highs-as-tech-surges\/48497\/#Major_Stock_News\" >Major Stock News<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-hit-record-highs-as-tech-surges\/48497\/#Upcoming_Market_Events\" >Upcoming Market Events<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-hit-record-highs-as-tech-surges\/48497\/#Market_Outlook\" >Market Outlook<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-hit-record-highs-as-tech-surges\/48497\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Overview_December_3_2024\"><\/span>Market Overview: December 3, 2024<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The stock market kicked off December with a strong performance, as major indexes continued their upward trajectory. <b>The <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> and Nasdaq Composite reached new all-time highs<\/b>, driven by gains in technology stocks and positive economic data .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_is_the_Market_Up_Today\"><\/span>Why is the Market Up Today?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several factors contributed to today&#8217;s market rally:<\/p>\n<p>1. <b>Tech Stock Surge<\/b>: Major technology companies, including Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>), Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>), Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>), and Broadcom (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AVGO\">AVGO<\/a>), led the market gains .<\/p>\n<p>2. <b>Positive Economic Data<\/b>: The November ISM manufacturing index rose to a 5-month high of 48.4, surpassing expectations. Additionally, October construction spending increased by 0.4% month-over-month, beating forecasts .<\/p>\n<p>3. <b>Dovish Fed Comments<\/b>: Federal Reserve Governor Waller hinted at a potential rate cut in December, boosting investor sentiment .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Current_Market_Indexes\"><\/span>Current Market Indexes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of the market close on December 3, 2024:<\/p>\n<p>&#8211; <b>S&#038;P 500 (^GSPC)<\/b>: Up 0.24%, reaching a new record high <br \/>&#8211; <b>Nasdaq Composite (^IXIC)<\/b>: Up 1%, also hitting a new all-time high <br \/>&#8211; <b><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (^DJI)<\/b>: Down 0.29%, slightly retreating from its recent record <\/p>\n<p>Year-to-date, the S&#038;P 500 has gained over 25%, while the Dow is up nearly 20%. The tech-heavy Nasdaq has surged by almost 30% .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Major_Stock_News\"><\/span>Major Stock News<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>1. <b>Super Micro Computer (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=SMCI\">SMCI<\/a>)<\/b>: Shares skyrocketed by 29% after an independent committee found no evidence of financial wrongdoing .<\/p>\n<p>2. <b>Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>)<\/b>: The electric vehicle maker&#8217;s stock climbed 3.5% following analyst upgrades and increased price targets .<\/p>\n<p>3. <b>Stellantis (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=STLA\">STLA<\/a>)<\/b>: The Jeep maker&#8217;s shares fell more than 5% on news of CEO Carlos Tavares&#8217; unexpected resignation .<\/p>\n<p>4. <b>Intel (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=INTC\">INTC<\/a>)<\/b>: The chipmaker&#8217;s stock declined after announcing the retirement of CEO Pat Gelsinger .<\/p>\n<p>5. <b>Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>)<\/b>: The tech giant&#8217;s shares touched a new record high, contributing to the overall market rally .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events\"><\/span>Upcoming Market Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are closely watching several key events that could impact the market in the coming days:<\/p>\n<p>1. <b>November Jobs Report<\/b>: Set to be released on Friday, this report is crucial for assessing the labor market&#8217;s strength and potential implications for Federal Reserve policy .<\/p>\n<p>2. <b>Job Openings Data<\/b>: The October Job Openings report, due today, will provide insights into labor market conditions .<\/p>\n<p>3. <b>Earnings Reports<\/b>: Notable companies reporting earnings after market close today include Salesforce (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CRM\">CRM<\/a>), Marvell Technology (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MRVL\">MRVL<\/a>), and Okta (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=OKTA\">OKTA<\/a>) .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Outlook\"><\/span>Market Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As we enter the final month of 2024, the market continues to show resilience. <b>The recent rally has been supported by optimism surrounding the incoming administration and expectations of a potential shift in Federal Reserve policy<\/b>. However, investors should remain cautious of potential volatility, especially as they await crucial economic data and monitor global trade developments .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The stock market&#8217;s strong performance to start December reflects ongoing investor confidence and positive economic indicators. As we navigate the remainder of the year, market participants will be closely watching upcoming economic reports and corporate earnings for further direction. Stay tuned for more updates on market news today and throughout the week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: December 3, 2024 The stock market kicked off December with a strong performance, as major indexes continued their [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[94],"tags":[3752,4,3940,31,33,75,225,391,595,1374,2919],"class_list":["post-48497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-stla","tag-tsla","tag-okta","tag-intc","tag-msft","tag-crm","tag-aapl","tag-amzn","tag-smci","tag-mrvl","tag-avgo"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=48497"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48497\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=48497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=48497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=48497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}