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Wall Street posted solid gains to begin a holiday-shortened week, reaching its highest level in more than three months.
The S&P 500 rose 0.7% Monday, coming off its third straight winning week. The Dow added 203 points, and the Nasdaq composite climbed 1.1%.
Microsoft was the strongest force lifting the market. The tech giant rose 2.1% after announcing it was bringing on Sam Altman for a new venture following his sudden dismissal as CEO of OpenAI, the maker of ChatGPT. This week is relatively light on economic reports given Thursday’s Thanksgiving holiday. A profit report from Nvidia coming Tuesday may be the highlight.
On Monday:
The S&P 500 rose 33.36 points, or 0.7%, to 4,547.38.
The Dow Jones Industrial Average rose 203.76 points, or 0.6%, to 35,151.04.
The Nasdaq composite rose 159.05 points, or 1.1%, to 14,284.53.
The Russell 2000 index of smaller companies rose 9.32 points, or 0.5% to 1,807.08.
For the year:
The S&P 500 is up 707.88 points, or 18.4%.
The Dow is up 2,003.79 points, or 6%.
The Nasdaq is up 3,818.05 points, or 36.5%.
The Russell 2000 is up 45.84 points, or 2.6%.