US Stocks were higher yesterday with the S&P 500 hitting a new record, as the market’s historic rally extended into December.
Economic activity in the manufacturing sector grew in November with the overall economy notching a seventh consecutive month of growth, but the manufacturing sector growth was slower than expected based on employment contracting.
Shares of the software company Salesforce dropped more than 3% after they announced they will acquire messaging platform Slack for $27.7 billion. Slack’s shares were higher on the news. Both companies also reported quarterly earnings that were better than expected.
Cyber Monday was projected to be the largest online shopping day in U.S. history and it delivered just that— a 15.1% increase over last year coming in at $10.8 billion for the day. Adobe analyzes shopping data that showed one trillion visits to U.S. retail websites and they calculated that the total season-to date holiday spending, including Cyber Monday, is over the $100 billion threshold. This milestone is usually not reached until mid-December
With Northwest Quadrant Wealth Management, I’m Tyler Simones.