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The Dow Dips as Tech Stocks Rally in Holiday-Shortened Week

Moomoo News ·  01:00

The $Dow Jones Industrial Average (.DJI.US)$ slipped Monday morning, kicking off a holiday-shortened trading week with a weak start.

Just after 11.45 am ET Monday, the Dow was trading 0.31% lower. Meanwhile, the $S&P 500 Index (.SPX.US)$ edged 0.25% higher and the $NASDAQ (NASDAQ.US)$ outperformed, gaining 0.6% as Tesla, Meta, and Nvidia all posted gains.

This week's trading is expected to be subdued, with the New York Stock Exchange closing early at 1 p.m. ET on Tuesday for Christmas Eve and remaining closed on Christmas Day.

Market sentiment took a hit from disappointing economic data, with the Conference Board’s consumer confidence index falling to 104.7 in December, missing the Dow Jones estimate of 113.0. November durable goods orders also saw a 1.1% decline, the steepest monthly drop since June.

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