U.S. equities experienced a slight increase on Tuesday to kick off the final week of the year, as traders aimed to conclude 2023 on a positive note.
The S&P 500 rose by 0.2%, while the Nasdaq Composite saw a 0.3% gain. The Dow Jones Industrial Average also managed to climb 16 points.
Notably, Intel’s stock surged over 2% following a $3.2 billion grant from the Israeli government for its $25 billion factory in the southern part of the country. Additionally, Manchester United shares increased by 1.7% after British billionaire Jim Ratcliffe finalized a deal to purchase a quarter of the soccer club.
On Monday, U.S. markets remained closed in observance of the Christmas holiday.
Heading into this shortened trading week, Wall Street carried momentum from the previous week’s performance. The S&P 500 achieved its eighth consecutive weekly gain, marking its longest winning streak since 2017. Both the Dow and Nasdaq Composite also notched an eight-week winning streak.
Furthermore, the S&P 500 approached record levels as Tuesday’s session commenced. The broad market index stood merely 0.9% below its previous closing all-time high of 4,796.56, which was set in January 2022. It also remained only 1.3% away from its intraday record.
Source (CNBC)
