FX.co ★ S&P 500 and Dow Set Fresh Records

The S&P 500 and Dow inched up by 0.1%, closing at a new record, thanks to the resilience in technology and energy sectors, which counteracted apprehensions tied to robust growth figures. Similarly, the Nasdaq experienced a 0.1% increase. Nvidia’s shares climbed by 1% following its announcement of a licensing agreement with the AI startup Groq, which rekindled the demand for AI-related stocks and bolstered the larger megacap sector. Meanwhile, energy stocks benefited as renewed U.S. policies and statements concerning Venezuelan exports contributed to stabilizing crude oil prices. Investors also considered a delayed report from the Bureau of Economic Analysis, revealing a strong 4.3% annualized growth rate for the third-quarter GDP. This data reinforced confidence in economic growth while moderating expectations for swift easing by the Federal Reserve in the upcoming year. During the session cut short by holiday schedules, trading volumes were subdued, allowing positioning and technical market trends to prevail, maintaining market robustness albeit cautiously, as investors set their sights on the year-end.