{"id":48508,"date":"2024-12-04T19:01:31","date_gmt":"2024-12-04T19:01:31","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-recap-major-indexes-hit-record-highs-as-tech-surges-on-december-4-2024\/48508\/"},"modified":"2024-12-04T19:01:31","modified_gmt":"2024-12-04T19:01:31","slug":"stock-market-recap-major-indexes-hit-record-highs-as-tech-surges-on-december-4-2024","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-major-indexes-hit-record-highs-as-tech-surges-on-december-4-2024\/48508\/","title":{"rendered":"Stock Market Recap: Major Indexes Hit Record Highs as Tech Surges on December 4, 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\/stock-market-recap-major-indexes-hit-record-highs-as-tech-surges-on-december-4-2024\/48508\/#Market_Overview_Why_Was_the_Market_Up_Today\" >Market Overview: Why Was 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-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-major-indexes-hit-record-highs-as-tech-surges-on-december-4-2024\/48508\/#Key_Market_Movements\" >Key Market Movements<\/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-recap-major-indexes-hit-record-highs-as-tech-surges-on-december-4-2024\/48508\/#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-recap-major-indexes-hit-record-highs-as-tech-surges-on-december-4-2024\/48508\/#Other_Notable_Stock_Movements\" >Other 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\/stock-market-recap-major-indexes-hit-record-highs-as-tech-surges-on-december-4-2024\/48508\/#Upcoming_Market_Events_and_Federal_Reserve_Watch\" >Upcoming Market Events and Federal Reserve Watch<\/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-recap-major-indexes-hit-record-highs-as-tech-surges-on-december-4-2024\/48508\/#Economic_Indicators\" >Economic Indicators<\/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-recap-major-indexes-hit-record-highs-as-tech-surges-on-december-4-2024\/48508\/#Looking_Ahead_Market_Expectations\" >Looking Ahead: Market Expectations<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Overview_Why_Was_the_Market_Up_Today\"><\/span>Market Overview: Why Was the Market Up Today?<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 major indexes reaching new record highs. The surge was primarily driven by strong performances in the technology sector, buoyed by positive earnings reports and growing optimism surrounding artificial intelligence (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AI\">AI<\/a>) developments.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Market_Movements\"><\/span>Key Market Movements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of the latest trading session:<\/p>\n<p>&#8211; The <b><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> (^GSPC)<\/b> climbed 0.3%, hitting a fresh all-time high.<br \/>&#8211; The <b><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (^DJI)<\/b> rose 0.4%, or approximately 200 points, inching closer to its own record.<br \/>&#8211; The <b>Nasdaq Composite (^IXIC)<\/b> surged 0.9%, also reaching a new record high.<\/p>\n<p>These gains mark the third consecutive day of record-setting performances for the S&#038;P 500 and Nasdaq Composite, reflecting robust investor confidence in the wake of last month&#8217;s presidential election.<\/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>The technology sector was the primary catalyst for today&#8217;s market gains. Notable performers include:<\/p>\n<p>&#8211; <b>Salesforce (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CRM\">CRM<\/a>)<\/b>: Shares soared 8% after the cloud software giant reported better-than-expected quarterly results and issued an optimistic full-year outlook, driven by strong demand for AI-related services.<br \/>&#8211; <b>Marvell Technology (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MRVL\">MRVL<\/a>)<\/b>: The chipmaker&#8217;s stock skyrocketed 24% following an impressive earnings report.<br \/>&#8211; <b>Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>)<\/b> and <b>Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>)<\/b>: Both tech giants saw gains exceeding 2%.<br \/>&#8211; <b>Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>)<\/b>, <b>Alphabet (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GOOGL\">GOOGL<\/a>)<\/b>, and <b>Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>)<\/b> also posted positive movements.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Other_Notable_Stock_Movements\"><\/span>Other Notable Stock Movements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&#8211; <b>Roku (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=ROKU\">ROKU<\/a>)<\/b>: Shares jumped over 12% after Needham suggested the streaming device maker could be an acquisition target.<br \/>&#8211; <b>SAP (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=SAP\">SAP<\/a>)<\/b>: The enterprise software company climbed 4.1%, reaching an all-time high following a collaboration announcement with Amazon Web Services.<br \/>&#8211; <b>GXO Logistics (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GXO\">GXO<\/a>)<\/b>: The stock plunged 12.2% after CEO Malcolm Wilson announced plans to retire in 2025.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events_and_Federal_Reserve_Watch\"><\/span>Upcoming Market Events and Federal Reserve Watch<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are eagerly awaiting Federal Reserve Chairman Jerome Powell&#8217;s scheduled appearance at a conference in New York later today. Market participants are seeking clues about the Fed&#8217;s approach to interest rate cuts in the coming months.<\/p>\n<p>The critical November jobs report, slated for release on Friday morning, is another key event on the horizon. These events could provide insights into the Fed&#8217;s monetary policy direction ahead of its final rate-policy meeting of the year, scheduled for December 18.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Indicators\"><\/span>Economic Indicators<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Recent economic data released on December 4, 2024, includes:<\/p>\n<p>&#8211; MBA 30-Year Mortgage Rate: Decreased to 6.69% from the prior 6.86%<br \/>&#8211; Mortgage Market Index: Rose to 213.9 from the previous 208<\/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>The market&#8217;s current trajectory suggests growing confidence in potential interest rate cuts. Traders are pricing in nearly 74% odds of a 25 basis point cut at the Fed&#8217;s December 18 meeting, up from about 66% a week ago, according to the CME FedWatch tool.<\/p>\n<p>As we move towards the end of 2024, investors will be closely monitoring economic indicators, corporate earnings, and Fed policy decisions to gauge the market&#8217;s direction in the coming weeks and into the new year.<\/p>\n<p>In conclusion, the stock market&#8217;s robust performance on December 4, 2024, underscores the ongoing strength in the technology sector and overall positive investor sentiment. As major indexes continue to set new records, all eyes are on upcoming economic data and Fed commentary for further guidance on the market&#8217;s future trajectory.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: Why Was the Market Up Today? On Wednesday, December 4, 2024, the U.S. stock market continued its bullish [&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":[3842,4,3941,33,75,262,391,633,1374,3703,3768],"class_list":["post-48508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-roku","tag-tsla","tag-gxo","tag-msft","tag-crm","tag-sap","tag-amzn","tag-nvda","tag-mrvl","tag-ai","tag-googl"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48508","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=48508"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48508\/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=48508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=48508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=48508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}