US Stock Market Today: Nasdaq, S&P 500 Open Higher; Intel Share Price Jumps After CEO Retires
The Nasdaq Composite climbed 0.6% to 19,330 as trading commenced at the Wall Street, whereas the S&P 500 advanced 0.5% to 6,043.
The US stock market opened mixed on Monday, with two main indices gaining. The 30-stock Dow Jones Industrial Average was up 91 points, or 0.2%, to touch 45,000, while the tech-heavy Nasdaq Composite gained 0.6% to trade near 19,330.
The broader index, S&P 500, advanced 0.5% to 6,043. Three out of the eleven sectoral indices were trading in the green, led by telecom and communication services, information technology and consumer discretionary. On the other hand, real estate, energy and utilities saw a decline.
Intel Corp. shares gained over 3% after chief executive officer Pat Gelsinger retired and the company appointed David Zinsner and Johnston Holthaus as interim co-CEOs.
Among other notable stocks, Super Micro Computer Inc. jumped 13%. Tesla Inc., Advanced Micro Devices Inc. and Carnival Corp. also reported gains.
Shares of chipmaker Dell Technologies Inc., EQT Corp. and General Dynamics Corp. saw declines.
November was the best month of 2024 for both S&P 500, as it advanced by 5.7%. Most of the gains came from the rally driven by Donald Trump's decisive victory in the presidential election. The index also ended the past week's trading on a strong note, as it rose 0.6% to notch fresh record highs in Friday's shortened trading session.
Investors are expected to focus on economic data related to manufacturing and construction spending, and key labour data scheduled to be released later in the week. They are also expected to monitor speeches from Federal Reserve Governor Christopher Waller and New York Fed President John Williams.
The yield on the US 10-year Treasury bond advanced six basis point to 4.23%.
The American currency gained in strength as the Dollar Index rose 0.8% to 106.58. The Euro fell 0.9% against the greenback, while the British pound fell 0.7%. The Japanese yen dipped 0.1% to 150 per dollar.
In commodities, spot gold was flat at $2,647 an ounce. Brent crude, the global oil benchmark, gained 0.4% to trade over $72 per barrel.
