U.S. stocks marked their fourth consecutive week of gains, the longest winning streak since June, in a week marked by thinner trading volumes due to the Thanksgiving and Black Friday holidays.
Small-cap stocks outperformed, while tech stocks lagged behind as U.S. Treasury yields surged following better-than-expected services PMI data in November.
Both the 10-year and 30-year Treasury bond yields increased by 7 basis points, resulting in a 1.1% decline in the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT).
The remaining sectors of the S&P 500 saw little movement, with energy and materials slightly outperforming by the end of the session.
Elsewhere, gold held above the psychological $2,000/oz threshold, signaling renewed optimism among investors.
Wednesday’s US Index Performance
Index Performance (+/-) Value Nasdaq 100 -0.12% 15,982.00 S&P 500 Index +0.06% 4,559.33 Dow Industrials +0.33% 35,390.16 Russell 2000 +0.67% 1,807.50
- The SPDR S&P 500 ETF Trust (ARCA: SPY) closed flat at $455.21.
- The SPDR Dow Jones Industrial Average ETF (NYSE:DIA) ended 0.4% to $353.91. ...
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