AllPennyStocks.com S&P, NASDAQ Hit Fresh Highs as Tech Shares Jump
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S&P, NASDAQ Hit Fresh Highs as Tech Shares Jump

December 04,2024 12:16 pm EST

S&P, NASDAQ Hit Fresh Highs as Tech Shares Jump

The S&P 500 and NASDAQ Composite scaled to record highs Wednesday, with tech shares leading the charge following strong reports from Salesforce and Marvell Technology.

The Dow Jones Industrial index regained 224.65 points to 44,930.15

The broader market surged 23.83 points to 6,073.71.

The tech-heavy NASDAQ Composite shot higher 185.73 points to 19,666.64.

Salesforce climbed 9% after the company posted fiscal third-quarter revenue that beat estimates. Chipmaker Marvell also beat earnings and leaped $22.98, or 21.9%, to $116.89.

Wednesday's moves come as investors await new U.S. employment data due Friday. Economists polled by Dow Jones expect the U.S. economy added 214,000 jobs in November.

Another report released on Wednesday morning from ADP revealed that private payrolls grew less than expected in November. Companies added just 146,000 on the month, while economists polled by Dow Jones had estimated growth of 163,000 positions.

Prices for the 10-year Treasury were higher, reducing yields to 4.20% from Tuesday's 4.23%. Treasury prices and yields move in opposite directions.

Oil prices dipped 50 cents to $69.44 U.S. a barrel.

Prices for gold jumped $5.40 an ounce to $2,673.30 U.S.

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