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 percent Monday, coming off its third straight winning week. The Dow added 203 points, and the Nasdaq composite climbed 1.1 percent.
Microsoft was the strongest force lifting the market. The tech giant rose 2.1 percent 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 percent, to 4,547.38.
The Dow Jones Industrial Average rose 203.76 points, or 0.6 percent, to 35,151.04.
The Nasdaq composite rose 159.05 points, or 1.1 percent, to 14,284.53.
The Russell 2000 index of smaller companies rose 9.32 points, or 0.5 percent to 1,807.08.
For the year:
The S&P 500 is up 707.88 points, or 18.4 percent.
The Dow is up 2,003.79 points, or 6 percent.
The Nasdaq is up 3,818.05 points, or 36.5 percent.
The Russell 2000 is up 45.84 points, or 2.6 percent.
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