Wall Street reaches more records on gains by big tech firms

Market Performance - Wall Street achieved record gains led by technology stocks, with the S&P 500 rising 42.77 points (0.6%) to 6,944.82, the Dow Jones Industrial Average increasing 484.90 points (1%) to 49,462.08, and the Nasdaq composite climbing 151.35 points (0.6%) to 23,547.17 [2] - Approximately 75% of stocks in the S&P 500 index experienced an increase, indicating broad market strength [1] Sector Highlights - The technology sector was the primary driver of market gains, with notable performances from Amazon (up 3.4%), Micron Technology (up 10%), and Microsoft (up 1.2%) [3] - Sandisk saw a significant surge of 27.6%, with its stock value increasing over 800% since its spin-off from Western Digital, driven by demand for data storage hardware related to artificial intelligence [4] Economic Indicators - The price of benchmark US crude oil fell by 2.0% to $57.13 per barrel, while Brent crude decreased by 1.7% to $60.70 per barrel [6] - Treasury yields rose, with the 10-year Treasury yield climbing to 4.16% and the 2-year Treasury yield increasing to 3.46% [7] Upcoming Economic Reports - Wall Street is anticipating updates on the US labor market, including job openings for November, weekly unemployment data, and the broader monthly employment report for December [9][10] - The Institute for Supply Management will release its latest services sector update, and the University of Michigan will provide a consumer sentiment survey, both of which are critical for understanding economic conditions [11]