Driven by a continued boost in technology sector shares, the S&P 500 and Nasdaq composite ended Tuesday at record levels. The Nasdaq added 0.44%, and the S&P 500 was also up 0.40%, like other stocks in a bullish run this year. The Dow Jones Industrial Average was down by 0.17% as the market appears to have been dragged up and down within the week.
The investors analyzed a report indicating that job openings in the United States surged in October, and layoffs decreased for the steepest in 1.5 years. The Federal Reserve kept the overall job market description as solid while remaining ambiguous on rate cuts in December.
Tech stocks drove key moves: Salesforce (CRM, Financial) rose 7% in extended trade as its Q3 beat revenue, helped by cloud. Amazon (AMZN, Financial) moved further up the AI chart after revealing new platforms at its AWS event.
On the other hand, Tesla (TSLA, Financial) received the pressure, closing in the lower red territory after it said November Chinese-made EV sales were 4.3% lower year-on-year.
Analysts and investors now look to the Friday nonfarm payroll number to gain a better understanding of Federal Reserve policy intentions and other economic indicators.
This article first appeared on GuruFocus.
