Wall Street Recovers Following Upbeat Data

US stock markets on Wall Street are seeing significant gains since the start of the new trading week, boosted by improved economic performance in the United States reflected in recent data.

The S&P 500 Index rose to 6048 points after adding approximately 15 points or 0.7%. Additionally, the tech-heavy Nasdaq reached a new record high of 19363 points, gaining about 179 points or roughly 1.00%. However, the Dow Jones Industrial Average declined to 44818 points, shedding about 100 points or 0.2%.

The Manufacturing PMI issued by the Institute for Supply Management (ISM) increased to 48.4 points in November from the previous reading of 46.5 points, exceeding market expectations of 47.5 points.

Markets are now looking forward to the release of the key US employment data at the end of the week, which is expected to support further Federal Reserve rate cuts.