Nasdaq and S&P 500 Hit Record Highs Amid Tech Surge and Anticipated Economic Data

On Monday, the Nasdaq and S&P 500 achieved record closing highs, driven by tech-related shares and expectations for upcoming economic data releases, including the key jobs report. The Dow declined, marking November as a month with substantial market gains, influenced by political changes and potential tax cuts.

The Nasdaq and S&P 500 reached unprecedented heights on Monday, fueled by a surge in tech-related stocks. Investors eagerly anticipate the week's economic data, focusing on the pivotal monthly jobs report. In contrast, the Dow experienced a decline, highlighting November's significant market gains.

Key sectors, including technology and communication services, saw notable increases. Tesla advanced 3.5% following a price target hike. Rick Meckler of Cherry Lane Investments noted a seasonal uptick, despite uncertainty regarding economic strategies amid a political shift.

Former President Donald Trump's recent election victory is credited with boosting markets in November. Investors are monitoring potential tax cuts and deregulation. Meanwhile, Federal Reserve commentary suggests a possible interest rate cut in December, as economic indicators like manufacturing activity show improvement. The upcoming employment report remains crucial for investors.

(With inputs from agencies.)