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Today’s real-time updates on the stock market

by Michael Stark

## Stocks Slip as Investors Question Market Performance After Five Straight Winning Weeks

On Monday, stocks experienced a slight slip as investors started to wonder whether the market was getting ahead of itself following five consecutive weeks of gains. The Dow Jones Industrial Average dropped 41.06 points, or 0.11%, closing at 36,204.44. The S&P 500 dipped 0.54% to 4,569.78, and the Nasdaq Composite declined 0.84% to 14,185.49.

### Latest Market Trends
During Monday’s trading, Elsewhere, Bitcoin reached a 19-month high, surpassing the $41,000 mark, while gold reached its highest nominal intraday level ever. Shares of companies associated with Bitcoin, including Marathon Digital, Riot Platforms, MicroStrategy, and Coinbase, saw significant gains. However, Alaska Air Group dropped 14.2% after agreeing to acquire rival Hawaiian Airlines for $1.9 billion, part of its West Coast expansion efforts.

## Analysis of the Market Trends
The market’s pullback on Monday was seen as a retreat following a strong period, with technology shares struggling. Nvidia and Meta were among the biggest decliners, with shares sliding more than 2%. Analysts suggested that the market was largely digesting the gains made over the past 11 months. According to Tom Hainlin, senior investment strategist at U.S. Bank Asset Management, “Digestion is the word of the day.”

### Post-Pandemic Recovery
It was noted that the S&P 500 posted its highest close since March 2022 on Friday, with year-to-date gains almost reaching 20%. The Dow’s year-to-date gains stood at over 9%, while the Nasdaq Composite’s gains reached 35%.

### Impending Rate Cuts
The rebound seen in stocks since October had been attributed to investors increasingly betting that the Federal Reserve would start cutting interest rates next year. This belief was maintained even as Fed Chairman Jerome Powell emphasized that it was “premature” to speculate on easing policy.

### Overall Market Performance
November was recorded as the best month for the 30-stock Dow since October 2022. The S&P 500 and Nasdaq Composite also enjoyed their most significant monthly gains since July 2022.

While the day’s slip indicated a moment of caution from investors, overall sentiment remained optimistic based on continued recovery from the pandemic and ongoing market trends.

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