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Small movements but a record on Wall Street

The movements were small on the New York Stock Exchange on Tuesday in a breathing pause after the recent sharp increases. Nevertheless, a couple of new records were set.

» Published: 03 December 2024

Small movements but a record on Wall Street
Photo: Richard Drew/AP/TT

Broad S&P 500 rose 0.1 percent and Nasdaq's composite index climbed 0.4 percent. Dow Jones industrial index, on the other hand, fell 0.2 percent.

This meant that S&P 500 and Nasdaq's composite index closed at new record levels for the second day in a row. It was the 55th time this year for S&P 500.

Among the really big tech companies, known as the magnificent seven, there were mixed bids. Best was Facebook owner Meta, up 3.5 percent, while dismal sales figures caused electric car manufacturer Tesla to lose power and end at minus 1.6 percent.

Incoming President Donald Trump threatened on Monday to stop Japanese Nippon Steel's planned purchase of American steel manufacturer US Steel. This caused the latter's share to plummet 8 percent.

Since Trump won the presidential election on November 5, Wall Street has gone like a train, with around 5 percent increases for S&P 500 and Nasdaq's composite index.

Dow Jones industrial index has climbed around 6 percent.

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By TTThis article has been altered and translated by Sweden Herald

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