Live Markets: Wall Street climbs with S&P tech index at all-time highs

Cushman & Wakefield

12/12/2023 21:22

* 
      Major U.S. stock indexes end higher, Nasdaq leads pct
gains
    

        * 
      Tech, financials lead S&P 500 sector gains; energy biggest
loser
    

        * 
      European 600 STOXX index down 0.2%
    

        * 
      Crude down >3%, dollar dips, bitcoin inches up, gold edges
down
    

        * 
      U.S. 10-Year Treasury yield slips to ~4.20%
    

  
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    WALL STREET CLIMBS WITH S&P TECH INDEX AT ALL-TIME HIGHS
    Wall Street ended higher on Tuesday, with the S&P 500 tech
sector index  .SPLRCT  notching its highest close ever as
investors awaited the central bank's last policy decision of the
year on Wednesday.
    The tech index rallied 0.8%, bringing its gain in 2023 to
~54%, putting it on track for its strongest year since 2009. 
    Broadcom  AVGO.O  jumped 4.2% and also hit a record high. It
is now up nearly 14% since Citi on Monday gave the the chipmaker
a "buy" rating, pointing to optimism around artificial
intelligence. 
    Nvidia  NVDA.O  and Advanced Micro  AMD.O  also added more
than 2%, and they saw the highest turnover on Wall Street, after
heavyweight Tesla  TSLA.O . Tesla dipped 1.1%.
    A fresh inflation reading did not alter expectations that
the Federal Reserve will hold interest rates steady at its
meeting on Wednesday.
    November consumer prices rose 3.1% on an annual basis, in
line with estimates from economists polled by Reuters, as a drop
in gasoline prices was overshadowed by a rise in rents. Core
prices, excluding volatile items such as food and energy costs,
also matched expectations, showing a 4% annual rise.
    Interest rate futures imply traders expect the Fed to begin
cutting rates in May.  
    The S&P 500 has now recovered 30% from its closing low in
October 2022, and it remains down about 3% from its record high
close in January 2022.  The benchmark index boasted its highest
closing level on Tuesday since Jan. 14 2022
    Here is your closing snapshot:
    
    (Noel Randewich)
    *****
    
    FOR TUESDAY'S OTHER LIVE MARKETS POSTS:
    
    EXPECT MID-HIGH SINGLE DIGIT US STOCK RETURNS IN 2024 - LPL
- CLICK HERE
    
    S&P TECH INDEX HITS RECORD, EYES STRONGEST YEAR SINCE 2009 -
CLICK HERE
    
    DELIVERY COMPANIES, AIRLINES HELP BOOST DOW TRANSPORTS -
CLICK HERE
    
    TUESDAY DATA: CPI, CPI, CPI - AND NFIB - CLICK HERE
    
    SOUTH KOREA'S RETAIL TRADERS FLOCK TO FOREIGN LEVERAGED ETFS
- CLICK HERE
    
    CUSHMAN & WAKEFIELD SEES OFFICE VACANCY PEAKING IN 2025 -
CLICK HERE
    
    S&P E-MINIS EDGE DOWN IN WAKE OF CPI DATA - CLICK HERE
    
    CAPITAL GOODS HEADED FOR "NEW NORMAL" - MS - CLICK HERE
    
    HIGHER FOR LONGER "NOT THE PANACEA" FOR GBP - BOFA CLICK
HERE
    
    CAC AND DAX SCALE NEW RECORD PEAKS CLICK HERE
    
    EUROPEAN SHARES SEEN STEADYING AT 22-MONTH HIGHS CLICK HERE
    
    UK LABOUR DATA TAKES THE STAGE BEFORE US INFLATION CLICK
HERE
    

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