Stock Market Today: Dow Slips to Start the Week; Shopify Stock Gains - The Wall Street Journal

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Stock Market Today: Dow Falls, Nasdaq Advances in Afternoon Trading; Shopify Shares Jump

Major benchmarks are on track to record strong monthly gains

Last Updated: 

Nov. 27, 2023 at 2:16 PM EST

U.S. stocks were mixed in Monday trading, with the Nasdaq rising, following four consecutive weeks of gains.

Stocks are looking to sustain their November rally. The S&P 500 is up nearly 9% this month and the three major U.S. stock indexes are on track for their strongest monthly performances in more than a year.

Monday's action follows the Thanksgiving holiday and a shortened Black Friday session.

In afternoon action:

U.S. stocks were mixed. The Nasdaq rose, while the Dow industrials slipped. The S&P 500 was little changed.

Early signs pointed to a strong Black Friday for retailers. Investors pushed up Shopify stock. Amazon rose more than 1%, with the stock on pace for its highest close of the year. Buy-now-pay-later company Affirm's shares jumped.

Treasury yields ebbed. The benchmark 10-year yield dipped after ending last week at 4.483%.

Oil prices edged lower. Front-month Brent futures traded at near $80 a barrel. Investors remained wary about the coming OPEC cartel meeting.

Home sales declined more than expected. U.S. new-home sales fell 5.6% to a seasonally-adjusted rate of 679,000 in October, the government reported Monday, a bigger drop than projected by economists surveyed by the Journal.

Gold prices rose. Front-month gold for November delivery added nearly 0.5% to finish at around $2,012 an ounce, its highest settle value since May.

Coming up:

Earnings season is wrapping up. Cybersecurity firm Zscaler is due to report Monday, followed by Hewlett Packard Enterprise on Tuesday, and Salesforce and Foot Locker on Wednesday.

This week’s data highlight is the Fed’s preferred measure of inflation, the personal-consumption expenditures price index, or PCE, which is due Thursday.

—By Anna Hirtenstein and Hannah Miao

Our Sunday podcast, WSJ's Take On the Week, can help you prepare for what's ahead. Plus, get smarter about markets with our free weekday morning and evening newsletters.

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