{"id":48500,"date":"2024-12-03T19:01:43","date_gmt":"2024-12-03T19:01:43","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-recap-sp-500-and-nasdaq-hit-record-highs-as-tech-surges-on-december-3-2024\/48500\/"},"modified":"2024-12-03T19:01:43","modified_gmt":"2024-12-03T19:01:43","slug":"market-recap-sp-500-and-nasdaq-hit-record-highs-as-tech-surges-on-december-3-2024","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-sp-500-and-nasdaq-hit-record-highs-as-tech-surges-on-december-3-2024\/48500\/","title":{"rendered":"Market Recap: S&#038;P 500 and Nasdaq Hit Record Highs as Tech Surges on December 3, 2024"},"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\/market-recap-sp-500-and-nasdaq-hit-record-highs-as-tech-surges-on-december-3-2024\/48500\/#Major_Indexes_Performance\" >Major Indexes Performance<\/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\/market-recap-sp-500-and-nasdaq-hit-record-highs-as-tech-surges-on-december-3-2024\/48500\/#Year-to-Date_Market_Performance\" >Year-to-Date Market Performance<\/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\/market-recap-sp-500-and-nasdaq-hit-record-highs-as-tech-surges-on-december-3-2024\/48500\/#Tech_Stocks_Leading_the_Charge\" >Tech Stocks Leading the Charge<\/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\/market-recap-sp-500-and-nasdaq-hit-record-highs-as-tech-surges-on-december-3-2024\/48500\/#Notable_Stock_Movements\" >Notable Stock Movements<\/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\/market-recap-sp-500-and-nasdaq-hit-record-highs-as-tech-surges-on-december-3-2024\/48500\/#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\/market-recap-sp-500-and-nasdaq-hit-record-highs-as-tech-surges-on-december-3-2024\/48500\/#Market_Outlook_and_Factors_to_Watch\" >Market Outlook and Factors to Watch<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Performance\"><\/span>Major Indexes Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of Tuesday, December 3, 2024, the stock market is taking a breather after a strong rally that pushed major indexes to record levels. <b>The <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> (^GSPC) and Nasdaq Composite (^IXIC) closed at all-time highs on Monday<\/b>, kicking off December on a high note. However, early trading on Tuesday showed slight declines across the board.<\/p>\n<p>The S&#038;P 500 edged up 0.2% on Monday, extending its recent record, while the <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (^DJI) slipped almost 0.3% from its recent all-time closing high. The tech-heavy Nasdaq Composite popped almost 1% on Monday, driven by strong performances in the technology sector.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Year-to-Date_Market_Performance\"><\/span>Year-to-Date Market Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The stock market&#8217;s performance in 2024 has been impressive:<\/p>\n<p>&#8211; <b>S&#038;P 500: Up over 25% year-to-date<\/b><br \/>&#8211; <b>Dow Jones Industrial Average: Gained nearly 20% year-to-date<\/b><br \/>&#8211; <b>Nasdaq Composite: Surged nearly 30% year-to-date<\/b><\/p>\n<p>This stellar performance has been supported by optimism surrounding the recent presidential election and expectations of potential interest rate cuts by the Federal Reserve.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Stocks_Leading_the_Charge\"><\/span>Tech Stocks Leading the Charge<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Technology stocks have been at the forefront of the market&#8217;s recent gains. On Monday, several tech giants saw significant movements:<\/p>\n<p>&#8211; Apple Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>) shares touched a record high<br \/>&#8211; Tesla Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>) and Meta Platforms Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>) both gained more than 3%<\/p>\n<p>Early trading on Tuesday showed a mixed picture for large-cap tech stocks:<\/p>\n<p>&#8211; Nvidia Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>), Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>), Alphabet Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GOOGL\">GOOGL<\/a>), and Amazon.com Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>) were rising<br \/>&#8211; Microsoft Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>), Meta Platforms (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>), and Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>) experienced slight declines<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Notable_Stock_Movements\"><\/span>Notable Stock Movements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several individual stocks have been making headlines:<\/p>\n<p>1. <b>Super Micro Computer Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=SMCI\">SMCI<\/a>)<\/b>: Shares surged nearly 30% on Monday and continued to rise by 7% early Tuesday following news that an independent review of its accounting practices found no wrongdoing.<\/p>\n<p>2. Stellantis N.V. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=STLA\">STLA<\/a>): The Jeep maker&#8217;s shares sank after CEO Carlos Tavares suddenly resigned.<\/p>\n<p>3. Intel Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=INTC\">INTC<\/a>): The stock ended lower on Monday after the company announced the retirement of CEO Pat Gelsinger.<\/p>\n<p>4. Zscaler Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=ZS\">ZS<\/a>): Shares were down 5% after the cloud security company reported disappointing quarterly results.<\/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 should keep an eye on several important events that could impact market performance:<\/p>\n<p>1. <b>Federal Reserve Chairman Jerome Powell&#8217;s speech<\/b>: Scheduled for Wednesday, December 4, 2024.<\/p>\n<p>2. <b>November jobs report<\/b>: Set to be released on Friday, December 6, 2024. This report is a key input for the Federal Reserve&#8217;s policy-making decisions.<\/p>\n<p>3. Job openings and private payrolls readings: These economic indicators will provide further insights into the labor market&#8217;s health.<\/p>\n<p>4. Earnings reports: Salesforce (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CRM\">CRM<\/a>) and Marvell Technology (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MRVL\">MRVL<\/a>) are scheduled to release their quarterly results later on Tuesday, December 3, 2024.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Outlook_and_Factors_to_Watch\"><\/span>Market Outlook and Factors to Watch<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As we move forward, several factors could influence market performance:<\/p>\n<p>1. <b>Interest rate expectations<\/b>: The market&#8217;s stellar performance in 2024 has been partly driven by expectations of potential rate cuts. Investors will be closely monitoring economic data and Fed communications for any shifts in this outlook.<\/p>\n<p>2. <b>Political developments<\/b>: The recent presidential election has boosted market optimism. However, investors should stay alert to any policy changes that may impact various sectors.<\/p>\n<p>3. <b>International trade relations<\/b>: Recent statements from the incoming president regarding potential tariffs on BRICS countries (Brazil, Russia, India, China, and South Africa) have put markets on alert. Any developments in this area could affect global trade and market sentiment.<\/p>\n<p>4. <b>Cryptocurrency market<\/b>: Bitcoin was trading at $95,200, down from an overnight high of $96,300, indicating ongoing volatility in the crypto space.<\/p>\n<p>5. <b>Commodities<\/b>: <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> futures were up 0.5% at around $2,670 an ounce, while crude oil futures rose about 1%, potentially impacting related sectors.<\/p>\n<p>As we navigate through the final month of 2024, investors should remain vigilant and diversified, keeping an eye on both domestic and international factors that could influence market dynamics. The strong performance of major indexes and tech stocks suggests a positive sentiment, but as always, caution and thorough research are advised when making investment decisions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Performance As of Tuesday, December 3, 2024, the stock market is taking a breather after a strong rally 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