On November 22, 2024, the Dow Jones Industrial Average closed up 0.97% at 44,296.39 points, while the S&P 500 rose 0.35% to 5,969.34 points. The Nasdaq Composite increased by 0.16%, finishing at 19,003.65 points. The Russell 2000, which tracks small-cap stocks, climbed 1.65% to 2,402.80 points.
For the week, the Dow Jones gained 1.96%, the S&P 500 increased by 1.68%, and the Nasdaq rose 1.73%. The Nasdaq experienced fluctuations during the day, influenced by declines in Nvidia and Alphabet stocks. However, an over 11% surge in Super Micro Computer shares, following its inclusion in Nvidia's trusted partners list, provided support, pushing the Nasdaq into positive territory by the end of the day.
Nvidia shares fell nearly 4% after reporting guidance below market expectations, despite a 109% increase in third-quarter profits. The Russell 2000 index continues to outperform its peers, benefiting from a low inflation environment.
Additionally, robust data from the preliminary composite Purchasing Managers' Index (PMI) for November rose to 55.3, marking the highest level in 31 months.