Market Report Dec 06 2023

On Tuesday Nasdaq Composite closed with a marginal gain of 0.3%, while the S&P 500 and the Dow Jones Industrial Average experienced slight declines of 0.1% and 0.2%, respectively.

Any negative impact was somewhat mitigated by the help of mega-cap stocks, which attracted buying and provided stability to the major indices.

Notable movements were observed in several key mega-cap stocks. AAPL achieved a significant milestone, surpassing a $3 tln valuation. NVDA and TSLA experienced rebounds from their d50MAs. MSFT also saw a modest increase.

The decline in bond yields obviously helped technology stocks. This decline in yields was primarily attributed to a significant drop in the October JOLTS job openings report, potentially influencing the Federal Reserve's monetary policy towards a more dovish stance.

Javid Shaik

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