US close: Stocks mixed as December trading gets underway

(Sharecast News) - Major indices delivered a mixed performance on Monday following last week's Thanksgiving break. At the close, the Dow Jones Industrial Average was down 0.29% at 44,782.00, while the S&P 500 advanced 0.24% to 6,047.15 and the Nasdaq Composite saw out the session 0.97% firmer at 19,403.95.

The Dow closed 128.65 points weaker on Monday, taking a bite out of gains recorded in the previous session.

Monday's primary focus was the Institute for Supply Management's manufacturing purchasing managers index, which increased to 48.4 in November, up from 46.5 in October and ahead of forecasts of 47.5. New orders increased for the first month in seven in November, while price pressures eased and production, employment and inventories contracted less than in previous months.

"Demand remains weak, as companies prepare plans for 2025 with the benefit of the election cycle ending. Production execution eased in November, consistent with demand sluggishness and weak backlogs. Suppliers continue to have capacity, with lead times improving but some product shortages reappearing", said Timothy Fiore of the ISM.

Elsewhere on the macro front, S&P Global's manufacturing was upwardly revised to 49.7 in November from a preliminary reading of 48.8 and October's print of 48.5. The rate of decline in new orders slowed sharply, while increased confidence around the future encouraged US firms to take on additional staff.

On another note, US construction spending rose by 0.4% month-on-month in October, according to the Census Bureau, rising to a seasonally adjusted annual rate of $2.17trn, following a 0.1% increase in September and ahead of expectations of 0.2% advance. On an annualised basis, construction spending was up 5%.

In the corporate space, Intel shares traded slightly lower after chief executive Pat Gelsinger stood down from the role, while Stellantis shares were 6.29% in the red following the immediate exit of CEO Carlos Tavares.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Boeing Co. (BA) $156.54 2.72% Microsoft Corp. (MSFT) $430.98 1.78% Nike Inc. (NKE) $79.09 0.96% Apple Inc. (AAPL) $239.59 0.95% Walmart Inc. (WMT) $92.64 0.83% Visa Inc. (V) $316.65 0.62% Cisco Systems Inc. (CSCO) $59.43 0.37% 3M Co. (MMM) $132.89 0.31% Salesforce.Com Inc. (CRM) $330.94 0.30% International Business Machines Corporation (CDI) (IBM) $227.39 0.21%

Dow Jones - Fallers

Merck & Co. Inc. (MRK) $100.61 -2.43% Amgen Inc. (AMGN) $278.10 -1.69% JP Morgan Chase & Co. (JPM) $246.25 -1.42% Coca-Cola Co. (KO) $63.65 -1.21% Verizon Communications Inc. (VZ) $43.85 -1.19% Travelers Company Inc. (TRV) $263.51 -1.18% McDonald's Corp. (MCD) $292.44 -0.89% American Express Co. (AXP) $302.06 -0.65% Goldman Sachs Group Inc. (GS) $601.71 -0.61% Dow Chemical Co. (DOW) $44.35 -0.58%

S&P 500 - Risers

Mosaic Company (MOS) $27.58 7.19% Gap Inc. (GAP) $25.81 6.56% Lam Research Corp. (LRCX) $78.51 6.27% Macy's Inc. (M) $16.93 6.08% Tapestry Inc. (TPR) $64.58 6.01% Norwegian Cruise Line Holdings Ltd (NCLH) $28.35 5.31% HP Inc (HPQ) $36.45 5.16% Applied Materials Inc. (AMAT) $183.26 4.90% Ralph Lauren Corp (RL) $233.41 4.82% Under Armour Inc. Class A (UAA) $10.16 4.74%

S&P 500 - Fallers

CenturyLink Inc. (LUMN) $6.99 -5.16% Advance Auto Parts (AAP) $42.76 -4.14% Dominion Energy Inc. (D) $57.36 -3.95% Sl Green Realty Corp. (SLG) $75.74 -3.94% Welltower Inc (WELL) $134.03 -3.78% Ventas Inc. (VTR) $62.26 -3.53% Consolidated Edison Inc. (ED) $98.50 -3.03% CMS Energy Corp. (CMS) $68.35 -2.96% AvalonBay Communities Inc. (AVB) $230.87 -2.95% Edison International (EIX) $85.78 -2.92%

Nasdaq 100 - Risers

Lam Research Corp. (LRCX) $78.51 6.27% Applied Materials Inc. (AMAT) $183.26 4.90% Asml Holdings N.V. (ASML) $711.47 3.62% Tesla Inc (TSLA) $357.09 3.46% Meta Platforms Inc. (META) $592.83 3.22% Microchip Technology Inc. (MCHP) $70.31 3.14% KLA-Tencor Corp. (KLAC) $666.03 2.94% QUALCOMM Inc. (QCOM) $163.03 2.84% Broadcom Inc. (AVGO) $166.51 2.73% Analog Devices Inc. (ADI) $223.12 2.33%

Nasdaq 100 - Fallers

Qurate Retail Inc. (QRTEA) $0.44 -6.35% Incyte Corp. (INCY) $73.25 -1.80% Mercadolibre Inc. (MELI) $1,950.73 -1.73% Amgen Inc. (AMGN) $278.10 -1.69% Biomarin Pharmaceutical Inc. (BMRN) $65.03 -1.52% Cintas Corp. (CTAS) $222.64 -1.40% Intuit Inc. (INTU) $634.07 -1.19% Kraft Heinz Co. (KHC) $31.61 -1.13% Vodafone Group Plc ADS (VOD) $8.87 -1.11% Fastenal Co. (FAST) $82.67 -1.07%