U.S. stocks are kicking off the week with a slight dip, as all major indices trade in the red in New York, except for the tech stocks of the Nasdaq 100, which are showing positive momentum following the release of encouraging data after Black Friday.
Initial data from Adobe and Salesforce indicates robust Black Friday online sales, slightly surpassing expectations, according to Bank of America. Overall, online sales have outperformed offline ones, a sentiment also echoed by Goldman Sachs, which noted subdued in-store traffic, with no lines forming during opening hours.
Treasury yields are once again declining as investors increasingly anticipate a soft landing for the economy. The dollar remains stable while the price of gold edges higher to reach $2,010 per ounce. Oil prices dipped with the oil producers’ meeting scheduled for Thursday.
Performance Of US Stock Indices Monday
| Index | Performance (+/-) | Value |
| Nasdaq 100 | +0.23% | 16,018.60 |
| S&P 500 Index | -0.09% | 4,555.39 |
| Dow Industrials | -0.30% | 35,293.15 |
| Russell 2000 | -0.45% | 1,799.42 |
The SPDR S&P 500 ETF Trust (ARCA: SPY) eased 0.07% to $455.03.
The SPDR Dow Jones Industrial Average ETF (NYSE:DIA) edged 0.2% lower to $352.96.
The Invesco QQQ Trust (NASDAQ: QQQ) rose 0.25% to $390.45.
The iShares Russell 2000 ETF (NYSE:IWM) fell 0.45% to $178.53, according to Benzinga Pro data.
Chart Of The Day: S&P 500 Eyes Best Month Since July 2022
Sector, Industry ETF Performance
Real estate stocks led gains among equity sectors, with the Real Estate Select Sector SPDR Fund (NYSE:XLRE) up 0.6%, followed by consumer discretionary, with the Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) up 0.5%.
Energy was the laggard, with the the Energy Select Sector SPDR Fund (NYSE:XLE) down 1%.
Gold miners outperformed among equity industries, with the VanEck Gold Miners ETF (NYSE:GDX) up 0.9%.
Solar stocks, as tracked by the Invesco Solar ETF (NYSE:TAN), continue to underperform, down by 1.52%, after tumbling 1.9% on Friday.
Latest Economic Data
October 2023 saw the U.S. housing market display mixed signals with a downturn in new home sales but an uptick in building permits. Sales of new single-family houses reached a seasonally adjusted annual rate of 679,000 in October, implying a 5.6% decrease from September’s revised rate of…
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