The S&P 500 advanced 0.3% on Monday, Nov. 25, 2024, as investors welcomed the post-election rally. President-elect Donald Trump named hedge fund manager Scott Bessent to lead the Treasury Department, which boosted market sentiment.
Tech heavy Nasdaq and Dow also moved higher, with gains in solar energy and housing sectors contributing to the rise. Enphase Energy jumped 8.5% on lower US Treasury yields, while Ulta Beauty advanced 7.2%. Pool Corp.’s shares rose after Warren Buffett’s Berkshire Hathaway purchased 400,000 shares.
However, some stocks fell. ConocoPhillips dropped 5.1% after finalizing its acquisition of Marathon Oil, and GE Vernova plummeted 5.8%. Oneok’s shares tumbled 4.7% as it announced plans to acquire Enlink Midstream for $4.3 billion. Lockheed Martin’s nearly 4% drop was attributed to Elon Musk questioning the cost-effectiveness of manned fighter jets.
The market gains came ahead of Thanksgiving week, which traditionally sees lower trading volumes and less volatility.
Source: https://www.investopedia.com/s-and-p-500-gains-and-losses-today-supermicro-shares-build-on-last-weeks-momentum-8751478