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The US stocks were mostly higher on last session of month, Thursday, 30 November 2023, with the Dow Jones Industrial Average and the S&P500 indexes settling strongly in positive territory as investors continued to bet on interest rate cuts after a key reading on consumer inflation, while the tech-heavy Nasdaq finished the day in the red as investors took some profits in Big Tech stocks.
At the close of trade, the Dow Jones Industrial Average index advanced 520.47 points, or 1.47%, to 35,950.89, its highest level of the year. The S&P500 index jumped 17.22 points, or 0.38%, to 4,567.80. The tech-heavy Nasdaq Composite index dropped 32.27 points, or 0.23%, to 14,226.22.
For the month, the Dow closed gained 8.9% and the S&P500 rose 8.9%, while the Nasdaq advanced 10.7%.
Total 8 of 11 S&P 500 sectors ended the day in positive territory, with healthcare being top performing sector, rising 1.25%, while communication services was bottom performing sector, falling 1%.
Shares of Salesforce skyrocketed 9.4% after the company reported better than expected fiscal third quarter earnings and provided upbeat guidance.
ECONOMIC NEWS: The Commerce Department released a report showing annual rate of consumer price growth decelerated to 3% in October from 3.4% in September. Core consumer price, which exclude food and energy prices, slipped to 3.5% in October from 3.7% in September.
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