U.S. stocks finished higher on Thursday, as traders hoped November’s jobs report due Friday shows continued easing in the labor market. Investors also cheered the launch of Alphabet’s latest artificial-intelligence model as optimism grows around a tech-driven market rally into year-end.
How stocks traded
The Dow Jones Industrial Average
DJIA
gained 62.95 points, or 0.2%, to end at 36,117.38.
The S&P 500
SPX
advanced 36.25 points, or 0.8%, to finish at 4,585.59
The Nasdaq Composite
COMP
rose by 193.28 points, or 1.4%, ending at 14,339.99.
After rising for five straight weeks, the S&P 500 and the Dow industrials appeared poised to finish this week lower, down 0.2% and 0.4%, respectively. The Nasdaq Composite has risen 0.2% this week, according to FactSet data.What drove markets U.S. stocks looked to build on November’s rally on Thursday, with the S&P 500 and the Dow industrials snapping a three-session losing streak. Tech stocks took the lead on Thursday, with shares of Alphabet Inc.
GOOGL,
+5.31%
and Advanced Micro Devices
AMD,
+9.89%
among the biggest gainers on the Nasdaq Composite. Google shares finished 5.3% higher, a day after the company announced its latest artificial intelligence model Gemini. The Dow industrials benefited from a surge in shares of Walgreens Boots Alliance Inc.
WBA,
+7.16%,
which popped 7.2%, but weakness in other constituents, including shares of UnitedHealth Group
UNH,
-0.23%,
helped offset the boost from Walgreens. “Some consumer-related stocks actually started outperforming first before we got the ‘Google News’ today, and that reduced some fears about the health of the consumer,” said Diane Jaffee, senior portfolio manager at TCW Group. See: Walgreens’ stock soars 8% to lead Dow gainers but is still on track for worst year since 1972 Yet some traders worried that one of the best months for stocks in the past decade has left the market overextended. A fear is that the market may have been too quick to price in as many as five interest-rate cuts from the Federal Reserve in 2024, according to CME FedWatch Tool. The shift in expectations sent stocks surging in the past month and Treasury yields plunging. B …
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How stocks traded
The Dow Jones Industrial Average
DJIA
gained 62.95 points, or 0.2%, to end at 36,117.38.
The S&P 500
SPX
advanced 36.25 points, or 0.8%, to finish at 4,585.59
The Nasdaq Composite
COMP
rose by 193.28 points, or 1.4%, ending at 14,339.99.
After rising for five straight weeks, the S&P 500 and the Dow industrials appeared poised to finish this week lower, down 0.2% and 0.4%, respectively. The Nasdaq Composite has risen 0.2% this week, according to FactSet data.What drove markets U.S. stocks looked to build on November’s rally on Thursday, with the S&P 500 and the Dow industrials snapping a three-session losing streak. Tech stocks took the lead on Thursday, with shares of Alphabet Inc.
GOOGL,
+5.31%
and Advanced Micro Devices
AMD,
+9.89%
among the biggest gainers on the Nasdaq Composite. Google shares finished 5.3% higher, a day after the company announced its latest artificial intelligence model Gemini. The Dow industrials benefited from a surge in shares of Walgreens Boots Alliance Inc.
WBA,
+7.16%,
which popped 7.2%, but weakness in other constituents, including shares of UnitedHealth Group
UNH,
-0.23%,
helped offset the boost from Walgreens. “Some consumer-related stocks actually started outperforming first before we got the ‘Google News’ today, and that reduced some fears about the health of the consumer,” said Diane Jaffee, senior portfolio manager at TCW Group. See: Walgreens’ stock soars 8% to lead Dow gainers but is still on track for worst year since 1972 Yet some traders worried that one of the best months for stocks in the past decade has left the market overextended. A fear is that the market may have been too quick to price in as many as five interest-rate cuts from the Federal Reserve in 2024, according to CME FedWatch Tool. The shift in expectations sent stocks surging in the past month and Treasury yields plunging. B …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]