Wall Street started the week and the final month of the year on a mixed note, as a tech-driven rally clashed with broader market weakness. Mega-cap tech stocks and semiconductors led gains, driving the Nasdaq 100 to retest its all-time high of 21,180 points, last reached on Nov. 11, 2024.
Apple Inc (NASDAQ:AAPL) climbed 1% on Monday, extending its rally to fresh all-time highs as investors bet on strong holiday-season sales for the Cupertino-based tech giant.
However, outside of growth sectors, the market showed weakness. All sectors except tech, communication services and consumer discretionary fell Monday, signaling uneven market performance.
The ISM Manufacturing PMI beat expectations but remained in contraction territory for the eighth consecutive month, reflecting a still-challenging industrial sentiment.
The U.S. dollar surged 0.8%, driven by a weakening euro amid rising fiscal and political risks in France. Meanwhile, gold prices slipped 0.6% to close the day at $2,635 per ounce, and crude oil held steady near $68 per barrel.
In the crypto space, Bitcoin (CRYPTO: BTC) fell 2.1% to trade around $95,000, retreating from its recent highs as traders locked in profits.
Monday’s Performance In Major U.S. Indices, ETFs
| Major Indices | Price | Chg % |
| Nasdaq 100 | 21,164.54 | 1.1% |
| S&P 500 | 6,045.89 | 0.2% |
| Russell 2000 | 2,428.76 | -0.2% |
| Dow Jones | 44,773.43 | -0.4% |
According to Benzinga Pro data:
- The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.2% to $603.55.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) fell 0.4% to $448.52.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rallied 1.1% to $515.49.
- The iShares Russell 2000 ETF (NYSE:IWM) eased 0.2% to $241.45.
- The Technology Select Sector SPDR Fund (NYSE:XLK) outperformed, rising 1.1%; the Utilities Select Sector SPDR Fund (NYSE:XLU) lagged, down 1.8%.
Monday’s Stock Movers
- Stellantis NV (NYSE:STLA) tumbled by nearly 7% in reaction to the resignation of its former CEO Carlos Tavares.
- Intel Corp. (NYSE:INTC) climbed 3% after CEO Pat Gelsinger was ousted less than four years into his tenure at the helm of the company.
- Roku (NASDAQ:ROKU) jumped 7% on Monday, fueled by strong retail momentum during Black Friday 2024. The company’s branded TVs gained significant visibility at major retailers like Best Buy, Target and Walmart.
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