We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies. In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Wall Street ended higher on Friday in a shortened trading day, with tech stocks driving the rally to cap a robust November for equities. All three major indexes ended in negative territory, with the Dow recording a new closing high.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) rose 0.4% or 188.259 points, to finish at 44,910.65 points.
The S&P 500 rose 0.6% or 33.64 points, to close at 6,032.38 points to close at a new record high. Tech and consumer discretionary stocks were the biggest gainers.
The Consumer Discretionary Select Sector SPDR (XLY) gained 1%, while the Technology Select Sector SPDR (XLK) added 0.9%. Ten of the 11 sectors of the benchmark index ended in positive territory.
The tech-heavy Nasdaq climbed 0.8% or 157.69 points to end at 19,218.17 points.
The fear-gauge CBOE Volatility Index (VIX) was down 2.81% to 13.51. Advancers outnumbered decliners on the NYSE by a 2.46-to-1 ratio. A total of 8.15 billion shares were traded on Friday, lower than the last 20-session average of 15 billion.
Tech Stocks Lead Rally on Shortened Trading Day
Trading volume was light on Friday in a shortened session following the Thanksgiving holiday. Investors kept a close watch on retail stocks and followed how shoppers responded to the massive Black Friday discounts.
So far, reports suggest an impressive start to the holiday season, with online sales on track to hit record highs on Black Friday.
Friday’s rally was driven by tech and chip stocks. Chip stocks rallied on reports that the Biden administration was contemplating imposing stronger barriers on the sale of semiconductor equipment to China as expected earlier.
The small-cap Russell 2000 also gained 0.4% on Friday as treasury yields fell further from their earlier highs. Friday’s moves came as investors finished the week and month on a high, taking major indexes to new record highs in a post-election rally fueled by Donald Trump’s win.
No major economic data was released on Friday.
Weekly Roundup
Wall Street scored yet another winning week, with the Dow finishing 1.4% higher. The S&P 500 and Nasdaq each closed the week 1.1% higher.
Monthly Roundup
November emerged to be one of the best months for stocks this year. The Dow closed the month up 7.5%. The S&P 500 and Nasdaq finished November 5% and 6% higher, respectively.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
Stock Market News for Dec 2, 2024
Wall Street ended higher on Friday in a shortened trading day, with tech stocks driving the rally to cap a robust November for equities. All three major indexes ended in negative territory, with the Dow recording a new closing high.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) rose 0.4% or 188.259 points, to finish at 44,910.65 points.
The S&P 500 rose 0.6% or 33.64 points, to close at 6,032.38 points to close at a new record high. Tech and consumer discretionary stocks were the biggest gainers.
The Consumer Discretionary Select Sector SPDR (XLY) gained 1%, while the Technology Select Sector SPDR (XLK) added 0.9%. Ten of the 11 sectors of the benchmark index ended in positive territory.
The tech-heavy Nasdaq climbed 0.8% or 157.69 points to end at 19,218.17 points.
The fear-gauge CBOE Volatility Index (VIX) was down 2.81% to 13.51. Advancers outnumbered decliners on the NYSE by a 2.46-to-1 ratio. A total of 8.15 billion shares were traded on Friday, lower than the last 20-session average of 15 billion.
Tech Stocks Lead Rally on Shortened Trading Day
Trading volume was light on Friday in a shortened session following the Thanksgiving holiday. Investors kept a close watch on retail stocks and followed how shoppers responded to the massive Black Friday discounts.
So far, reports suggest an impressive start to the holiday season, with online sales on track to hit record highs on Black Friday.
Friday’s rally was driven by tech and chip stocks. Chip stocks rallied on reports that the Biden administration was contemplating imposing stronger barriers on the sale of semiconductor equipment to China as expected earlier.
Shares of NVIDIA Corporation ((NVDA - Free Report) ) rose 2.2%, while shares of Lam Research Corporation ((LRCX - Free Report) ) gained 3.2%. NVIDIA carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The small-cap Russell 2000 also gained 0.4% on Friday as treasury yields fell further from their earlier highs. Friday’s moves came as investors finished the week and month on a high, taking major indexes to new record highs in a post-election rally fueled by Donald Trump’s win.
No major economic data was released on Friday.
Weekly Roundup
Wall Street scored yet another winning week, with the Dow finishing 1.4% higher. The S&P 500 and Nasdaq each closed the week 1.1% higher.
Monthly Roundup
November emerged to be one of the best months for stocks this year. The Dow closed the month up 7.5%. The S&P 500 and Nasdaq finished November 5% and 6% higher, respectively.