Traders work on the floor of the New York Stock Exchange on November 22, 2024, in New York City.
NYSE
The Dow Jones Industrial Average and the S&P 500 reached new records on Monday. Investors were happy about President-elect Donald Trump’s choice for Treasury secretary.
The Dow went up by 435 points, or 1%. The S&P 500 rose by 0.5%. Both reached all-time highs. The Nasdaq Composite also increased by 0.4%.
More than 80% of S&P 500 stocks went up. The small-cap Russell 2000 jumped over 2%.
Investors like the pick of Scott Bessent as Treasury secretary. They think he will help the stock market.
U.S. markets will be closed on Thursday for Thanksgiving. They will close early on Friday. Trading volume will be light this week.
Investors will look for important economic data on inflation on Wednesday.
Vocabulary List:
- Average /ˈæv.ər.ɪdʒ/ (noun): A level or standard that is typical or usual for a particular group or category.
- Investors /ɪnˈvɛstərz/ (noun): Individuals or organizations that allocate capital with the expectation of a future financial return.
- Treasury /ˈtrɛʒ.ər.i/ (noun): The department responsible for managing a country’s finances including revenue collection and debt issuance.
- Economic /ˌiː.kəˈnɒm.ɪk/ (adjective): Relating to the economy or financial matters.
- Volume /ˈvɒl.juːm/ (noun): The amount of trading activity in a market typically represented by the number of shares traded.
- Inflation /ɪnˈfleɪ.ʃən/ (noun): The rate at which the general level of prices for goods and services rises eroding purchasing power.
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