{"id":48505,"date":"2024-12-04T12:28:38","date_gmt":"2024-12-04T12:28:38","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-poised-for-fresh-highs-as-tech-rallies\/48505\/"},"modified":"2024-12-04T12:28:38","modified_gmt":"2024-12-04T12:28:38","slug":"stock-market-today-sp-500-and-nasdaq-poised-for-fresh-highs-as-tech-rallies","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-poised-for-fresh-highs-as-tech-rallies\/48505\/","title":{"rendered":"Stock Market Today: S&#038;P 500 and Nasdaq Poised for Fresh Highs as Tech Rallies"},"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-poised-for-fresh-highs-as-tech-rallies\/48505\/#Market_Indexes_Surge_Ahead_of_Fed_Chair_Powells_Speech\" >Market Indexes Surge Ahead of Fed Chair Powell&#8217;s Speech<\/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-poised-for-fresh-highs-as-tech-rallies\/48505\/#Current_Market_Performance\" >Current 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\/stock-market-today-sp-500-and-nasdaq-poised-for-fresh-highs-as-tech-rallies\/48505\/#Tech_Sector_Leads_the_Charge\" >Tech Sector Leads 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\/stock-market-today-sp-500-and-nasdaq-poised-for-fresh-highs-as-tech-rallies\/48505\/#Anticipation_Builds_for_Fed_Chair_Powells_Speech\" >Anticipation Builds for Fed Chair Powell&#8217;s Speech<\/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-poised-for-fresh-highs-as-tech-rallies\/48505\/#Economic_Data_in_Focus\" >Economic Data in Focus<\/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-poised-for-fresh-highs-as-tech-rallies\/48505\/#Global_Market_Influences\" >Global Market Influences<\/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-poised-for-fresh-highs-as-tech-rallies\/48505\/#Corporate_News_Impacting_the_Market\" >Corporate News Impacting the Market<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-poised-for-fresh-highs-as-tech-rallies\/48505\/#Looking_Ahead_Market_Expectations\" >Looking Ahead: Market Expectations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-poised-for-fresh-highs-as-tech-rallies\/48505\/#Conclusion_A_Pivotal_Day_for_Market_Direction\" >Conclusion: A Pivotal Day for Market Direction<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Indexes_Surge_Ahead_of_Fed_Chair_Powells_Speech\"><\/span>Market Indexes Surge Ahead of Fed Chair Powell&#8217;s Speech<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of Wednesday, December 4, 2024, the U.S. stock market is poised for another day of gains, with technology stocks leading the charge. <b>Futures for major indexes are pointing upward, signaling potential record highs for the <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> and Nasdaq Composite<\/b>. This positive momentum comes as investors eagerly await Federal Reserve Chair Jerome Powell&#8217;s speech later today, which could provide crucial insights into the central bank&#8217;s interest rate plans.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Current_Market_Performance\"><\/span>Current Market Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of the market open:<\/p>\n<p>&#8211; S&#038;P 500 (ES=F): 6,079.75, up 16.50 points (+0.27%)<br \/>&#8211; <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (YM=F): 44,995.00, up 187.00 points (+0.42%)<br \/>&#8211; Nasdaq 100 (NQ=F): 21,415.25, up 133.75 points (+0.63%)<\/p>\n<p>The S&#038;P 500 and Nasdaq Composite both reached new all-time closing highs in the previous session, extending the robust rally that has characterized the market since the U.S. presidential election last month.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Sector_Leads_the_Charge\"><\/span>Tech Sector Leads the Charge<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>Technology stocks are at the forefront of today&#8217;s market optimism<\/b>. Notable <a href=\"https:\/\/stockmarketwatch.com\/movers\/premarket\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market<\/a> movers include:<\/p>\n<p>&#8211; Salesforce (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CRM\">CRM<\/a>): Up 13% following strong quarterly results and increased AI product adoption<br \/>&#8211; Okta (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=OKTA\">OKTA<\/a>): Gaining on positive earnings report<br \/>&#8211; Marvell Technology (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MRVL\">MRVL<\/a>): Rising after well-received financial results<\/p>\n<p>These tech gains are contributing significantly to the overall market momentum, particularly boosting the Nasdaq futures.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Anticipation_Builds_for_Fed_Chair_Powells_Speech\"><\/span>Anticipation Builds for Fed Chair Powell&#8217;s Speech<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are keenly focused on Federal Reserve Chair Jerome Powell&#8217;s upcoming appearance in New York. <b>Market participants are looking for clues about the possibility of interest rate cuts in the near future<\/b>. The central bank&#8217;s December 18 meeting is now widely expected to result in a rate cut, with CME FedWatch tool indicating a 74% probability of a 25 basis point reduction.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Data_in_Focus\"><\/span>Economic Data in Focus<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several key economic indicators are on the horizon:<\/p>\n<p>1. ADP private payrolls report (December 6)<br \/>2. Monthly jobs report (December 8)<br \/>3. U.S. job openings data (released December 3, showing a moderate increase in October)<\/p>\n<p>These reports will be crucial in assessing the labor market&#8217;s health and could influence the Fed&#8217;s decision-making process regarding interest rates.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Global_Market_Influences\"><\/span>Global Market Influences<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While U.S. markets are showing strength, international factors are also at play:<\/p>\n<p>&#8211; <b>South Korean stocks: The iShares MSCI South Korea ETF (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=EWY\">EWY<\/a>) dropped 3% following President Yoon Suk Yeol&#8217;s brief declaration of martial law<\/b><br \/>&#8211; Political turmoil in France: Investors are watching a no-confidence vote that could potentially bring down the government<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_News_Impacting_the_Market\"><\/span>Corporate News Impacting the Market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several major companies are making headlines:<\/p>\n<p>&#8211; Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>): Shares down 1.5% after reporting a 4.3% year-on-year decline in China-made EV sales for November<br \/>&#8211; U.S. Steel (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=X\">X<\/a>): Stock fell 7.9% after former President Donald Trump reiterated opposition to Nippon Steel&#8217;s planned $15 billion acquisition<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead_Market_Expectations\"><\/span>Looking Ahead: Market Expectations<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the market continues its upward trajectory, analysts are cautiously optimistic but warn of potential overvaluation risks. Patrick Kaser, portfolio manager at Brandywine Global, notes, &#8220;There&#8217;s a lot of momentum and people are looking for reasons to be optimistic. The flip side is that at some point, everybody&#8217;s expecting good things and valuations are not supportive of anything other than this good scenario.&#8221;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion_A_Pivotal_Day_for_Market_Direction\"><\/span>Conclusion: A Pivotal Day for Market Direction<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>Today&#8217;s market performance, coupled with Fed Chair Powell&#8217;s speech, could set the tone for the remainder of 2024<\/b>. Investors should closely monitor these developments, as they may provide critical insights into the market&#8217;s trajectory and the Federal Reserve&#8217;s monetary policy plans for the coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Indexes Surge Ahead of Fed Chair Powell&#8217;s Speech As of Wednesday, December 4, 2024, the U.S. stock market is 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