{"id":48504,"date":"2024-12-04T12:01:32","date_gmt":"2024-12-04T12:01:32","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-hits-new-record-as-nasdaq-100-surges\/48504\/"},"modified":"2024-12-04T12:01:32","modified_gmt":"2024-12-04T12:01:32","slug":"stock-market-today-sp-500-hits-new-record-as-nasdaq-100-surges","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-hits-new-record-as-nasdaq-100-surges\/48504\/","title":{"rendered":"Stock Market Today: S&#038;P 500 Hits New Record as Nasdaq 100 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-hits-new-record-as-nasdaq-100-surges\/48504\/#Market_Overview_December_4_2024\" >Market Overview: December 4, 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-hits-new-record-as-nasdaq-100-surges\/48504\/#Major_Index_Performance\" >Major Index 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\/stock-market-today-sp-500-hits-new-record-as-nasdaq-100-surges\/48504\/#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-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-hits-new-record-as-nasdaq-100-surges\/48504\/#Key_Stock_Movers\" >Key Stock Movers<\/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-hits-new-record-as-nasdaq-100-surges\/48504\/#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-hits-new-record-as-nasdaq-100-surges\/48504\/#Earnings_Reports_to_Watch\" >Earnings Reports to Watch<\/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-hits-new-record-as-nasdaq-100-surges\/48504\/#Market_Outlook\" >Market Outlook<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Overview_December_4_2024\"><\/span>Market Overview: December 4, 2024<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Wednesday, December 4, 2024, the U.S. stock market demonstrated mixed performance, with the <b><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> and Nasdaq 100 reaching new heights<\/b> while the <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average experienced a slight decline. Investors are closely monitoring upcoming economic data releases and Federal Reserve commentary for insights into future monetary policy decisions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Major_Index_Performance\"><\/span>Major Index Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of the market close on December 4, 2024:<\/p>\n<p>&#8211; The <b>S&#038;P 500 (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=SPY\">SPY<\/a>)<\/b> edged up 0.05%, setting a new record high.<br \/>&#8211; The <b>Nasdaq 100 (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=QQQ\">QQQ<\/a>)<\/b> advanced 0.31%, also reaching an all-time high.<br \/>&#8211; The <b>Dow Jones Industrial Average (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DIA\">DIA<\/a>)<\/b> slipped 0.17%.<\/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 positive market sentiment:<\/p>\n<p>1. <b>Positive Corporate News<\/b>: Companies like Palantir Technologies (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PLTR\">PLTR<\/a>) and AT&#038;T (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=T\">T<\/a>) saw significant gains after announcing favorable business developments.<\/p>\n<p>2. <b>Fed Commentary<\/b>: Recent statements from Federal Reserve officials, including Governor Kugler and San Francisco Fed President Daly, suggested a potential interest rate cut in December, boosting investor confidence.<\/p>\n<p>3. <b>Strong Labor Market<\/b>: The October JOLTS job openings report showed a larger-than-expected increase to 7.744 million, indicating continued strength in the job market.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Stock_Movers\"><\/span>Key Stock Movers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several stocks made notable moves today:<\/p>\n<p>&#8211; <b>Palantir Technologies (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PLTR\">PLTR<\/a>)<\/b>: Surged over 6% after receiving U.S. government authorization for two cloud services.<br \/>&#8211; <b>AT&#038;T (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=T\">T<\/a>)<\/b>: Climbed more than 4% following positive profit growth forecasts and a $20 billion share repurchase program announcement.<br \/>&#8211; <b>Microchip Technology (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MCHP\">MCHP<\/a>)<\/b>: Fell 7% after announcing a plant closure in Arizona and lowering Q3 revenue guidance.<br \/>&#8211; <b>Procter &#038; Gamble (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PG\">PG<\/a>)<\/b>: Declined over 2% due to concerns about foreign exchange rates and logistics issues affecting Q2 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 these upcoming events that could impact market performance:<\/p>\n<p>1. <b>November ISM Services Index<\/b>: Expected to be released on December 5, with a forecast of 55.5.<br \/>2. <b>Fed Chair Powell&#8217;s Speech<\/b>: Scheduled for December 5 at a moderated discussion event in New York.<br \/>3. <b>November Nonfarm Payrolls Report<\/b>: Set for release on December 6, with expectations of 200,000 jobs added.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Earnings_Reports_to_Watch\"><\/span>Earnings Reports to Watch<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Key companies reporting earnings on December 4, 2024, include:<\/p>\n<p>&#8211; Dollar Tree Inc (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DLTR\">DLTR<\/a>)<br \/>&#8211; Five Below Inc (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=FIVE\">FIVE<\/a>)<br \/>&#8211; Hormel Foods Corp (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=HRL\">HRL<\/a>)<br \/>&#8211; PVH Corp (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PVH\">PVH<\/a>)<br \/>&#8211; Synopsys Inc (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=SNPS\">SNPS<\/a>)<br \/>&#8211; The Campbell&#8217;s Company (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CPB\">CPB<\/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 move further into December, historical trends suggest a potentially positive month for stocks. Since 1950, December has ranked as the third-best month for both the Dow and S&#038;P 500, with average gains of 1.6% and 1.5%, respectively.<\/p>\n<p><b>Terry Sandven, chief equity strategist at U.S. Bank Wealth Management<\/b>, commented, &#8220;On balance, we think there&#8217;s much to like about U.S. equities, despite a wall of worry that looms on the horizon. Inflation, interest rates, and earnings are supportive of a risk-on bias, and technological advances such as Gen AI continue to expand markets while pushing equities higher.&#8221;<\/p>\n<p>Investors are particularly focused on the upcoming Federal Reserve meeting on December 17-18. Current market expectations indicate a 72% chance of a 25 basis point rate cut at this meeting, which could further fuel market optimism.<\/p>\n<p>As we navigate through the final month of 2024, market participants should remain vigilant of economic data releases, corporate earnings, and geopolitical developments that could influence stock market performance. With the S&#038;P 500 and Nasdaq 100 at record levels, investors will be watching closely to see if this bullish momentum can be sustained into the new year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: December 4, 2024 On Wednesday, December 4, 2024, the U.S. stock market demonstrated mixed performance, with the S&#038;P 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