US stock indices showed mixed performance on Monday as strong Black Friday sales and better-than-expected manufacturing data provided a mixed outlook for the economy.
Key Indices
- Dow Jones Industrial Average: Fell 0.39% (-175.45 points) to 44,735.20.
- S&P 500: Gained 0.12% (+7.54 points) to 6,039.92.
- Nasdaq Composite: Rose 0.84% (+161.02 points) to 19,379.19.
Top Movers
- Tesla: Gained 2.6% after Stifel raised its target price to $411.
- Amazon: Rose 2.1%, reflecting strong Black Friday sales.
- Super Micro: Jumped 13.7% as the AI server maker announced a search for a new finance chief.
- Intel: Increased 2.9% following CEO Pat Gelsinger’s retirement.
- Disney: Advanced 0.3%, bolstered by a record $220 million Thanksgiving weekend opening for "Moana 2."
- Stellantis: Dropped 7.4% after announcing the CEO's departure.
Economic Highlights
The Institute for Supply Management reported that US manufacturing contracted in November, but the decline was less severe than expected. Investors are also focusing on key data releases this week, particularly November’s non-farm payrolls report due Friday.
Bond Market
The yield on the 10-year Treasury note rose to 4.23% from 4.18% on Friday, reflecting investor caution ahead of economic data releases.
Commodities
- Oil: Prices climbed on Monday as Chinese factory activity spurred hopes for stronger demand.
- Brent Crude: Up 0.49% to $72.20 per barrel.
- WTI Crude: Rose 0.5% to $68.33 per barrel.
- Gold: Prices slipped, breaking a four-day winning streak due to a rally in the US dollar.
- Spot Gold: Down 0.3% to $2,646.50 per ounce.
- Silver: Declined 0.4% to $30.48 per ounce.
Outlook
The market's mixed response reflects cautious optimism, balancing strong retail sales against global economic uncertainties and upcoming US economic data. Investors remain focused on Friday’s payroll report for clues about the Federal Reserve’s next move.
