Wall Street today: US stocks mixed amid strong Black Friday sales, manufacturing report | Stock Market News
Source: Live Mint
US stock indices were mixed on Monday amid signs of strong Black Friday sales and after a report showed the US manufacturing sector is doing slightly better than feared.
According to the Institute for Supply Management, manufacturing contracted again in November, but not by as much as expected,
The week ahead is packed with economic data that could indicate how the US economy is faring.
Among the several reports, investors would keenly watch the non-farm payrolls data for November due on Friday.
At 10:08 a.m. ET, the Dow Jones Industrial Average fell 175.45 points, or 0.39 per cent, to 44,735.20, the S&P 500 gained 7.54 points, or 0.12 per cent, to 6,039.92 and the Nasdaq Composite gained 161.02 points, or 0.84 per cent, to 19,379.19.
Among the megacap stocks, Tesla gained 2.6 per cent, after Stifel raised its target price on the stock to $411 from $287. Amazon rose 2.1 per cent.
Super Micro jumped 13.7 per cent after the AI server maker begun its search for a new finance chief.
Intel stock jumped 2.9 per cent after announcing that Pat Gelsinger had retired as CEO.
Disney advanced 0.3 per cent following a strong box-office showing for “Moana 2”. The animated movie recorded a record $220 million opening over the long Thanksgiving weekend in North America.
Stellantis fell 7.4 per cent following the announcement of its CEO’s departure.
In the bond market, the yield on the 10-year Treasury climbed to 4.23 per cent from 4.18 per cent late on Friday.
Crude oil
Oil prices rose on Monday, as strong factory activity in China buoyed hopes of higher demand.
Brent crude futures climbed 36 cents, or 0.49 per cent, to $72.20 a barrel by 10:44 a.m. EST (1544 GMT) while U.S. West Texas Intermediate crude rose 34 cents, or 0.5 per cent, to $68.33.
Bullion
Gold prices slipped on Monday, snapping a four-day winning streak, as the US dollar staged a sharp rally.
Spot gold was down 0.3 per cent at $2,646.50 per ounce as of 10:09 a.m. ET (1509 GMT). US gold futures dropped 0.4 per cent to $2,670.
Spot silver shed 0.4 per cent to $30.48 per ounce.
