{"id":48516,"date":"2024-12-05T19:01:40","date_gmt":"2024-12-05T19:01:40","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-recap-sp-500-dow-and-nasdaq-hit-new-records-as-tech-stocks-soar\/48516\/"},"modified":"2024-12-05T19:01:40","modified_gmt":"2024-12-05T19:01:40","slug":"market-recap-sp-500-dow-and-nasdaq-hit-new-records-as-tech-stocks-soar","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-sp-500-dow-and-nasdaq-hit-new-records-as-tech-stocks-soar\/48516\/","title":{"rendered":"Market Recap: S&#038;P 500, Dow, and Nasdaq Hit New Records as Tech Stocks Soar"},"content":{"rendered":"<p>The U.S. stock market continued its impressive rally on Thursday, December 5, 2024, with all three major indexes reaching new record highs. Investors remained optimistic about the economy&#8217;s strength and the potential for interest rate cuts in the coming year.<\/p>\n<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-dow-and-nasdaq-hit-new-records-as-tech-stocks-soar\/48516\/#Market_Performance\" >Market 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-dow-and-nasdaq-hit-new-records-as-tech-stocks-soar\/48516\/#Sector_Performance_and_Notable_Stocks\" >Sector Performance and Notable Stocks<\/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-dow-and-nasdaq-hit-new-records-as-tech-stocks-soar\/48516\/#Economic_Indicators_and_Federal_Reserve_Outlook\" >Economic Indicators and Federal Reserve Outlook<\/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-dow-and-nasdaq-hit-new-records-as-tech-stocks-soar\/48516\/#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\/market-recap-sp-500-dow-and-nasdaq-hit-new-records-as-tech-stocks-soar\/48516\/#Cryptocurrency_and_Commodities\" >Cryptocurrency and Commodities<\/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-dow-and-nasdaq-hit-new-records-as-tech-stocks-soar\/48516\/#Market_Outlook\" >Market Outlook<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance\"><\/span>Market Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <b><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> (^GSPC)<\/b> climbed 0.61% to close at 6,086.49, marking another all-time high. The <b><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (^DJI)<\/b> surged 0.69%, or 308.51 points, to finish at 45,014.04, breaking above the 45,000 level for the first time in history. The tech-heavy <b>Nasdaq Composite (^IXIC)<\/b> outperformed its peers, soaring 1.30% to end the session at 19,735.12.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sector_Performance_and_Notable_Stocks\"><\/span>Sector Performance and Notable Stocks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Technology stocks led the day&#8217;s gains, with several big names hitting new highs:<\/p>\n<p>1. <b>Salesforce (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CRM\">CRM<\/a>)<\/b>: Shares surged 11% after the cloud software company reported better-than-expected quarterly results and issued an optimistic full-year outlook, boosted by strong demand for its AI products.<\/p>\n<p>2. <b>Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>)<\/b>: The AI chip giant gained over 3%, approaching its own record high.<\/p>\n<p>3. <b>Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>)<\/b> and <b>Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>)<\/b>: Both tech giants reached intraday all-time highs.<\/p>\n<p>4. <b>Marvell Technology (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MRVL\">MRVL<\/a>)<\/b>: The chipmaker&#8217;s stock skyrocketed 24% following a strong earnings report.<\/p>\n<p>Other notable performers included <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>, all of which saw gains. However, <b>Meta Platforms (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>)<\/b> experienced a slight dip.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Indicators_and_Federal_Reserve_Outlook\"><\/span>Economic Indicators and Federal Reserve Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors closely monitored Federal Reserve Chairman Jerome Powell&#8217;s comments at the New York Times DealBook Summit. Powell&#8217;s remarks that the U.S. economy is in &#8220;remarkably good shape&#8221; bolstered market confidence. He suggested that the Fed could &#8220;afford to be a little more cautious&#8221; in its interest rate cutting path, which was interpreted positively by market participants.<\/p>\n<p>The yield on 10-year Treasury notes, a key indicator of interest rate expectations, fell to 4.19% from 4.22% the previous day. This decline reflects growing optimism about potential rate cuts in the near future.<\/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>Market participants are now looking ahead to several key events:<\/p>\n<p>1. <b>November Jobs Report<\/b>: Set to be released on Friday morning, this report could provide crucial insights into the labor market&#8217;s health and influence the Fed&#8217;s decision-making.<\/p>\n<p>2. <b>Federal Reserve Meeting<\/b>: The final rate policy meeting of the year is scheduled for December 18. Traders are pricing in a 77% probability of a 25 basis point rate cut, up from 67% a week ago, according to the CME FedWatch tool.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cryptocurrency_and_Commodities\"><\/span>Cryptocurrency and Commodities<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the cryptocurrency market, <b>Bitcoin (BTC-USD)<\/b> traded at $97,913.51, up 1.92% for the day. <b>Ethereum (ETH-USD)<\/b> also saw significant gains, rising 6.47% to $3,849.59.<\/p>\n<p><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> futures edged up slightly to $2,674.20 an ounce, while oil futures declined by approximately 1%.<\/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 2024 draws to a close, the Dow Jones Industrial Average is up 18.7% year-to-date, with technology and retail stocks among the top performers. Analysts remain cautiously optimistic about the market&#8217;s trajectory, citing continued economic growth and potential easing of inflationary pressures as positive factors.<\/p>\n<p>However, investors should remain vigilant and monitor upcoming economic data and Fed decisions, as these could significantly impact market dynamics in the coming weeks and into the new year.<\/p>\n<p>In conclusion, the U.S. stock market&#8217;s robust performance on December 5, 2024, reflects strong investor confidence in the face of potential interest rate cuts and solid corporate earnings, particularly in the technology sector. As we approach the year&#8217;s end, all eyes will be on the upcoming jobs report and the Federal Reserve&#8217;s final meeting of 2024 for further guidance on the economic outlook.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. stock market continued its impressive rally on Thursday, December 5, 2024, with all three major indexes reaching new 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