Dow -76.47 at 44705.53, Nasdaq +76.96 at 19480.91, S&P +2.73 at 6049.88
he S&P 500 (+0.1%) and Nasdaq (+0.4%) moved further into record territory. There wasn’t a lot of conviction behind the upside moves, which were primarily driven by mega-cap gains, and the overall vibe in the market was more pessimistic. The Dow Jones Industrial Average (-0.2%) settled slightly lower than yesterday, while the Russell 2000 underperformed, dropping 0.7%.
Apple (AAPL 242.65, +3.06, +1.3%) and Meta Platforms (META 613.65, +20.82, +3.5%), which hit fresh 52-week highs, were top performers from the mega-cap space, along with Amazon.com (AMZN 213.44, +2.73, +1.3%), NVIDIA (NVDA 140.26, +1.63, +1.2%), and Eli Lilly (LLY 813.33, +13.53, +1.7%).
Tesla (TSLA 351.42, -5.67, -1.6%) lagged its mega-cap peers, settling lower in response to CEO Elon Musk’s pay package being rejected by a Delaware judge, according to Bloomberg, and after China-produced electric vehicle sales fell 4.3% in November, according to Reuters.
Gains in some of the names above propelled their respective S&P 500 sectors to close higher. The communication services (+1.1%), information technology (+0.6%), and consumer discretionary (+0.1%) sectors were alone in the green at the close, while the remaining eight sectors registered losses ranging from 0.1% to 0.9%.
Our stocks are cranking. Leave them alone.
I’m bullish into year-end.