N@N

Stock market today: S&P 500, Nasdaq close at record highs as tech surges to kick off December

The article from Yahoo Finance discusses the stock market's performance on the first trading day of December, where both the S&P 500 and Nasdaq closed at record highs, driven by a surge in technology stocks. The market was buoyed by optimism around potential Federal Reserve interest rate cuts in 2024, following comments from Fed Governor Christopher Waller suggesting that if inflation continues to decrease, rate cuts could be on the horizon. This news particularly uplifted tech giants like Apple, Microsoft, and Amazon, with their stocks seeing significant gains. Additionally, the article mentions that the Dow Jones Industrial Average also saw a slight increase, although it did not reach a new record. The positive market sentiment was further supported by a drop in Treasury yields, with the 10-year Treasury yield falling to its lowest since July, reflecting expectations of a less hawkish monetary policy. However, the article also notes that despite the market's enthusiasm, there are concerns about overvaluation in some sectors and the sustainability of the current rally.

Read the Full YAHOO!Finance Article at:
[ https://finance.yahoo.com/news/live/stock-market-today-sp-500-nasdaq-close-at-record-highs-as-tech-surges-to-kick-off-december-210024834.html ]