{"id":48506,"date":"2024-12-04T15:01:38","date_gmt":"2024-12-04T15:01:38","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-hit-fresh-highs-amid-fed-speculation\/48506\/"},"modified":"2024-12-04T15:01:38","modified_gmt":"2024-12-04T15:01:38","slug":"stock-market-today-sp-500-and-nasdaq-hit-fresh-highs-amid-fed-speculation","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-hit-fresh-highs-amid-fed-speculation\/48506\/","title":{"rendered":"Stock Market Today: S&#038;P 500 and Nasdaq Hit Fresh Highs Amid Fed Speculation"},"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-fresh-highs-amid-fed-speculation\/48506\/#Market_Performance_Major_Indexes_Reach_New_Records\" >Market Performance: Major Indexes Reach New Records<\/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-fresh-highs-amid-fed-speculation\/48506\/#Pre-Market_Indicators_and_Futures\" >Pre-Market Indicators and Futures<\/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-fresh-highs-amid-fed-speculation\/48506\/#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-and-nasdaq-hit-fresh-highs-amid-fed-speculation\/48506\/#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-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-hit-fresh-highs-amid-fed-speculation\/48506\/#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-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-hit-fresh-highs-amid-fed-speculation\/48506\/#Market_Breadth_and_Sector_Performance\" >Market Breadth and Sector Performance<\/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-fresh-highs-amid-fed-speculation\/48506\/#Global_Market_Influences\" >Global Market Influences<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance_Major_Indexes_Reach_New_Records\"><\/span>Market Performance: Major Indexes Reach New Records<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Wednesday, December 4, 2024, the U.S. stock market continued its bullish trend, with the <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> and Nasdaq Composite reaching fresh all-time highs. As of 11:36 a.m. ET, the <b><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average<\/b> (.DJI) experienced a slight dip of 169.17 points (0.37%) to 44,615.46. Meanwhile, the <b>S&#038;P 500<\/b> (.SPX) edged lower by 6.98 points (0.11%) to 6,040.22, and the <b>Nasdaq Composite<\/b> (.IXIC) gained 22.13 points (0.12%) to 19,427.37, briefly touching a new record high.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Pre-Market_Indicators_and_Futures\"><\/span>Pre-Market Indicators and Futures<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The positive momentum was evident in <a href=\"https:\/\/stockmarketwatch.com\/movers\/premarket\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market trading<\/a>, with futures pointing to a strong opening. <b>Dow Jones Industrial Average futures<\/b> (YM=F) climbed 0.5%, or over 200 points. <b>S&#038;P 500 futures<\/b> (ES=F) added 0.3%, building on the previous session&#8217;s all-time closing high. The tech-heavy <b>Nasdaq 100 futures<\/b> (NQ=F) led the way with a 0.7% gain, setting the stage for potential new records.<\/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 are contributing to the market&#8217;s upward trajectory:<\/p>\n<p>1. <b>Tech Sector Strength<\/b>: The technology sector continues to drive market gains. Salesforce (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CRM\">CRM<\/a>) stock surged around 13% in pre-market trading following strong quarterly results, particularly in its AI products. Other tech companies like Okta (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=OKTA\">OKTA<\/a>) and Marvell (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MRVL\">MRVL<\/a>) also saw significant jumps after positive earnings reports.<\/p>\n<p>2. <b>Federal Reserve Speculation<\/b>: Investors are eagerly anticipating Federal Reserve Chair Jerome Powell&#8217;s appearance in New York later today. The market is seeking clues about the potential for interest rate cuts, with growing confidence in a December rate reduction. Traders currently see a 74% probability of a 25 basis point cut at the Fed&#8217;s December 18 meeting, up from 66% a week ago.<\/p>\n<p>3. <b>Labor Market Data<\/b>: A Labor Department report showed a moderate increase in U.S. job openings in October, while layoffs declined. This suggests the labor market is cooling in an orderly fashion, potentially supporting the case for Fed easing.<\/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>Several key events are on the horizon that could impact market performance:<\/p>\n<p>1. <b>November Payrolls Report<\/b>: The highly anticipated monthly payrolls figures, due on Friday, will be crucial in gauging the Fed&#8217;s interest rate trajectory.<\/p>\n<p>2. <b>ADP Private Payrolls Report<\/b>: A reading on private payrolls for November is scheduled for release on Wednesday, providing additional insight into the labor market&#8217;s health.<\/p>\n<p>3. <b>Fed Officials&#8217; Comments<\/b>: Investors will be parsing through comments from Chicago Fed President Austan Goolsbee and Fed Board Governor Adriana Kugler for further indications of the central bank&#8217;s stance.<\/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>Several notable stocks are making headlines:<\/p>\n<p>&#8211; <b>Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>)<\/b>: The electric vehicle maker saw its stock slip 1.5% after reporting a 4.3% year-on-year decline in sales of China-made vehicles for November.<br \/>&#8211; <b>Zscaler (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=ZS\">ZS<\/a>)<\/b>: The cybersecurity firm&#8217;s shares dropped 5.7% following a second-quarter revenue forecast that failed to impress analysts.<br \/>&#8211; <b>U.S. Steel (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=X\">X<\/a>)<\/b>: The company&#8217;s stock shed 7.9% after former President Donald Trump reiterated his opposition to Nippon Steel&#8217;s planned $15 billion purchase of the company.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Breadth_and_Sector_Performance\"><\/span>Market Breadth and Sector Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Market breadth indicates a cautious sentiment, with declining issues outnumbering advancers by a 1.62-to-1 ratio on the <a href=\"https:\/\/stockmarketwatch.com\/exchanges\/nyse\/today\" data-internallinksmanager029f6b8e52c=\"2\" title=\"NYSE Today\">NYSE<\/a> and a 1.89-to-1 ratio on the Nasdaq. Seven of the 11 major S&#038;P sub-sectors were trading lower, with the industrials sector (.SPLRCI) leading the declines with a 0.9% fall.<\/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>International events are also impacting U.S. markets. U.S.-listed shares of South Korean companies, represented by the iShares MSCI South Korea ETF (EWY.P), fell 3% following President Yoon Suk Yeol&#8217;s declaration of martial law in the country. Additionally, political turmoil in France and the potential for a no-confidence vote are keeping investors alert to global risks.<\/p>\n<p>As the market continues to navigate through economic data, Fed speculation, and global events, investors remain cautiously optimistic. The current rally, particularly in the tech sector, underscores the market&#8217;s resilience and the ongoing search for growth opportunities in an evolving economic landscape.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Performance: Major Indexes Reach New Records On Wednesday, December 4, 2024, the U.S. stock market continued its bullish trend, [&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":[4,75,1374,3858,3935,3940],"class_list":["post-48506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-tsla","tag-crm","tag-mrvl","tag-x","tag-zs","tag-okta"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48506","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=48506"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48506\/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=48506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=48506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=48506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}