Salesforce shares jumped 2.6% on a $4 billion buyback plan as the 10-year Treasury yield dropped to 4.24%. Watch for holiday volume shifts in the coming days.
Major U.S. stock indexes edged higher on Tuesday, with the S&P 500 and Nasdaq Composite posting small gains as investors weighed mixed economic signals. The S&P 500 rose 0.2% to close at 4,543.50, while the Nasdaq Composite gained 0.3% to finish at 14,354.87. The Dow Jones Industrial Average lagged slightly, adding just 14 points to end at 35,307.63. Trading volume was below average ahead of the Thanksgiving holiday.
Investors digested a report showing U.S. consumer confidence fell more than expected in November to a six-month low, reflecting concerns about the labor market and business conditions. However, a separate report from the Labor Department showed a modest decrease in weekly jobless claims, suggesting the labor market remains resilient. "The data continues to paint a picture of a moderating but still-solid economy," said one economist. "The consumer is pulling back a bit, but the labor market is holding up."
In corporate news, Salesforce Inc. rose 2.6% after announcing a $4 billion stock buyback program. Dollar Tree gained 3.3% following quarterly results that beat estimates, while Vail Resorts fell 4.5% after forecasting lower-than-expected earnings. Meanwhile, the yield on the 10-year Treasury note fell to 4.24%, and oil prices slipped, with U.S. crude settling at $78.03 a barrel.
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