U.S. stocks marked their fourth consecutive week of gains, the longest winning streak since June, in a week marked by thinner trading volumes due to the Thanksgiving and Black Friday holidays.
Small-cap stocks outperformed, while tech stocks lagged behind as U.S. Treasury yields surged following better-than-expected services PMI data in November.
Both the 10-year and 30-year Treasury bond yields increased by 7 basis points, resulting in a 1.1% decline in the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT).
The remaining sectors of the S&P 500 saw little movement, with energy and materials slightly outperforming by the end of the session.
Elsewhere, gold held above the psychological $2,000/oz threshold, signaling renewed optimism among investors.
Wednesday’s US Index Performance
| Index | Performance (+/-) | Value |
| Nasdaq 100 | -0.12% | 15,982.00 |
| S&P 500 Index | +0.06% | 4,559.33 |
| Dow Industrials | +0.33% | 35,390.16 |
| Russell 2000 | +0.67% | 1,807.50 |
The SPDR S&P 500 ETF Trust (ARCA: SPY) closed flat at $455.21.
The SPDR Dow Jones Industrial Average ETF (NYSE:DIA) ended 0.4% to $353.91.
The Invesco QQQ Trust (NASDAQ: QQQ) eased 0.15% to $289.48.
The iShares Russell 2000 ETF (NYSE:IWM) rose 0.66% to $179.31, according to Benzinga Pro data.
Chart Of The Day: Nasdaq 100 At Less Than 5% Distance From All-Time Highs
Sector, Industry ETFs Performance
Healthcare stocks led gains among equity sectors, with the Health Care Select Sector SPDR Fund (NYSE:XLV) up 0.55%.
The Communication Services Select Sector SPDR Fund (NYSE:XLC) and the Technology Select Sector SPDR Fund (NYSE:XLK) were the laggards, down 0.4% and 0.2% respectively.
Among industries, oil services, as monitored through the VanEck Oil Services ETF (NYSE:OIH) edged higher by 0.5%.
Solar stocks, as tracked by the Invesco Solar ETF (NYSE:TAN), underperformed, down by 1.4%.
Latest Economic Data
The S&P Global Manufacturing PMI for the U.S. recorded a slight decrease, falling from 50 to 49.4 points in November, signaling a reentry into contraction territory. In contrast, the S&P Global Services PMI rose from 50.6 to 50.8 points, surpassing expectations of 50.4.
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