Stock indexes, including S&P 500 and Nasdaq 100, rally due to strength in tech stocks

From Nasdaq: 2024-12-04 15:12:16

The S&P 500, Dow Jones, and Nasdaq 100 are all up today, with technology stocks leading the way to new all-time highs. Positive earnings reports from Marvell Technology and Salesforce have buoyed the sector. T-note yields initially rose on hawkish comments but fell after weaker-than-expected economic data.

US MBA mortgage applications rose, while US Nov ADP employment change came in slightly weaker than expected. US Nov ISM services index fell more than expected. US Oct factory orders met expectations. Markets await Powell’s speech and Friday’s nonfarm payrolls report.

Overseas, Euro Stoxx 50 is up, Shanghai Composite is down, and Nikkei Stock 225 is up. March 10-year T-notes are slightly higher. European bond yields are up. ECB may cut rates in December. US stock movers include Marvell Technology, Salesforce, Pure Storage, Okta, Roku, and Amazon.com.

Veeva Systems and GE Vernova are up, while Campbell’s Company, Foot Locker, Nike, Thor Industries, Hormel Foods, Chewy, Intuitive Machines, and Bristol-Myers Squibb are down. Earnings reports on 12/4 include Dollar Tree, Five Below, Hormel Foods, nCino, PVH Corp, SentinelOne, Synopsys, The Campbell’s Company, and Thor Industries.



Read more at Nasdaq: Stock Indexes Rally on Strength in Technology Stocks