S&P and Nasdaq on Track for Third Record Close This Week | Live Stock
Good morning, traders. Happy Wednesday, December 4th. Here are the news and animal spirits you are missing on the market today: My name is Kevin Travers, and the S&P 500 and Nasdaq are on track for their third session of record closes, and both hit record highs in the first hour of trading today.
$Salesforce (CRM.US)$ climbed 8%, the highest on the S&P 500 and Dow, after the enterprise cloud company beat estimates for third-quarter revenue and raised the lower end of its annual revenue forecast.
$Okta (OKTA.US)$ stock soared 14% before returning to a 5% climb after the digital identity verification firm reported a third-quarter profit versus a year-ago loss, with 15% of its bookings coming from new products.
$Marvell Technology (MRVL.US)$ stock gained 22%, the highest on the Nasdaq 100 after the chipmaker forecast fourth-quarter revenue above analyst estimates, pointing to strong AI chip demand. Sales for the chip maker climbed 19% quarter over quarter to $1.52B, vs. estimates of $1.46B.
In market-related news, Brian Johnson, CEO of $UnitedHealth (UNH.US)$'s insurance unit, was shot and killed outside of the Hilton Hotel in Midtown Manhattan Wednesday morning, according to NyPost and multiple news outlets. The suspect was described as using a silenced weapon, and sources told CNBC it was a targeted attack. UNH, the largest health care conglomerate in the U.S., canceled its investor day, which was planned at the Hilton on Wednesday.
Within industries tracked by moomoo, Salesforce led the way for a 2.39% jump in Cloud Computing stocks tracked by moomoo.
$Bitcoin (BTC.CC)$ hovered at $96k. Silver and gold climbed, the $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ fell and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ was flat.
The market overall climbed, with two of three major indices on their way to records.
Just past 11:01 am ET the $S&P 500 Index (.SPX.US)$ traded +0.39%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.39%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.99%.
According to S&P and ISM PMI numbers released Wednesday, manufacturing and service prices continued to climb in November, according to S&P and ISM PMI numbers released Wednesday, but prices did not climb as much as estimated.
Yesterday, users talked about their favorite stocks and picks. One pointed out Red Violet, a smaller stock than the ones we typically track at moomoo, that recently announced a dividend of 30C/share.
Traders, what do you think? What are you watching on the stock market today? What is the herd following? Let me know in the comments below!
Want to keep up to date with the market and all its feelings-driven swings, all in under three minutes? Click here to follow the Live Stock Podcast topic. Comment below or in the hot topic for a chance to appear on the podcast! I want to talk about what you are investing in!
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
Posts do not represent mm
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Clement Lemons : okk
Space Dust : Gorman Rupp.. amazing company..
ITT also starting to be interesting.
DEC.. diversified energy!. been great also.
Cony has been good for a sustained period.