Dow Settles Above 45,000 For First Time As Salesforce, Marvell Surge: Investor Sentiment Improves, Fear Index In 'Greed' Zone
DowDow(US:DOW) Benzinga·2024-12-05 07:56

Market Sentiment - The CNN Money Fear and Greed index improved to a reading of 57.1, remaining in the "Greed" zone, up from 56.4 previously [6] Stock Performance - U.S. stocks closed higher, with the Dow Jones index surpassing 45,000 for the first time, closing at 45,014.04, up approximately 309 points [4] - The S&P 500 rose by 0.61% to 6,086.49, while the Nasdaq Composite increased by 1.30% to close at 19,735.12 [4] Company Earnings - Salesforce Inc. saw its shares surge around 11% after reporting better-than-expected fiscal third-quarter revenue [2] - Marvell Technology Inc. shares climbed approximately 23% after exceeding earnings expectations and providing positive fourth-quarter guidance [2] Economic Data - U.S. private businesses added 146,000 workers in November, a decrease from a revised 184,000 gain in October, and below market estimates of 150,000 [3] - U.S. factory orders increased by 0.2% month-over-month to $586.7 billion in October [3] - The ISM services PMI fell to 52.1 in November, down from 56 in October and below market estimates of 55.5 [3] Sector Performance - Most sectors on the S&P 500 closed negatively, with energy, materials, and financial stocks experiencing the largest losses [4] - Consumer discretionary and information technology stocks performed well, closing higher despite the overall market trend [4] Upcoming Earnings - Investors are anticipating earnings results from Dollar General Corporation, Kroger Co., and Lululemon Athletica Inc. [5]