Morning Report 3 Dec 24: S&P 500, Nasdaq advance on tech boost at start of data-heavy week

US sharemarkets were mixed on Monday. The S&P 500 and the Nasdaq indexes gained, boosted by technology stocks, while investor focus remained on a slew of US economic data this week. Most megacap and growth stocks were higher with Tesla leading gains, up 3.5%, after Stifel raised its target price on the stock to US$411 from US$287. Apple reset its record high, up 1%. Intel fell 0.5% after the chipmaker announced CEO Pat Gelsinger's retirement. Super Micro Computer jumped 28.7% after the AI server maker begun its search for a new finance chief based on recommendations made by a special committee formed to look into the company's accounting practices. The broader semiconductor index was up 2.6%. The Dow Jones index fell. But the S&P 500 index and the Nasdaq index gained - both closing at record highs.


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