As global tensions decline, stocks rise on positive data – US Market Wrap

Stocks rose on the back of easing geopolitical concerns, a surge in big tech, and strong economic statistics, with the market holding higher after an inflation report that was in line. Short-term bonds declined.
Equities extended their advances for the second consecutive day. Tech megacaps surged after Nvidia CEO Jensen Huang’s comments boosted the artificial intelligence trade. Small caps outperformed the US stock index for the 14th consecutive session. Trump sued JPMorgan and its CEO Jamie Dimon over suspected debanking, causing the lender’s shares to fall.

Treasury two-year yields rose as robust economic statistics strengthened the case for the Federal Reserve to keep interest rates on hold.
The US economy grew somewhat faster than expected in the third quarter, thanks to greater exports and a lower drag from inventories. Last week, initial Jobless claims held steady at 200,000. Personal expenditure increased at a steady rate in November, demonstrating consumer resilience.

The S&P 500 increased by 0.5%. The Magnificent Seven stock index rose 2.1%. The Russell 2000 index of small enterprises set a new record. The VIX, a key measure of stock volatility, fell to below 16.
The 10-year Treasury yield was hardly changed at 4.25%. The dollar fell 0.3%. Oil prices fell as Ukrainian President Zelenskiy addressed prospects for trilateral meetings with the United States and Russia. Gold reached all-time highs.