The stock market went up on Monday as technology companies did well. The S&P 500, a group of big companies, rose by 0.4%. The Nasdaq Composite, which has lots of tech companies, went up by 0.8%. Some popular tech stocks like Tesla, Meta Platforms, and Nvidia went up by at least 2%. However, the Dow Jones Industrial Average, another group of big companies, didn’t do as well, going down by 65 points.
This week, trading is expected to be quiet because of the holidays. The stock market will close early on Tuesday and will be closed on Christmas Day. Earlier in the day, some bad news about the economy made traders worried. People are hoping for a “Santa Claus rally” to help end the year on a good note. This is a tradition where the stock market usually goes up in the last days of December and the first days of January. Despite some ups and downs, experts believe that the market could still do well before the end of the year.
Vocabulary List:
- Composite /kəmˈpɒz.ɪt/ (noun): A thing made up of several parts or elements.
- Average /ˈæv.ər.ɪdʒ/ (noun): A number that is calculated by dividing the total by the number of items.
- Rally /ˈræl.i/ (noun): A period of sustained increases in the price of stocks.
- Tradition /trəˈdɪʃ.ən/ (noun): The transmission of customs or beliefs from generation to generation.
- Economy /ɪˈkɒn.ə.mi/ (noun): The wealth and resources of a region particularly in terms of the production and consumption of goods and services.
- Experts /ˈɛk.spɜːrt/ (noun): Individuals with specialized knowledge or skill in a particular field.
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