The Nasdaq experienced a slight decline on Thursday after reaching a historic close above 20,000 for the first time. This increase was driven by strong performances from major tech companies such as Tesla, Amazon, Meta Platforms, and Alphabet.
On the other hand, the Dow Jones Industrial Average has seen its fifth consecutive decline, while the S&P 500 rose by almost 1%. Market enthusiasm was tempered by a higher-than-expected wholesale inflation report, with the producer price index for November surpassing estimates. Despite this, traders are still hopeful for a potential rate cut at the Federal Reserve's upcoming policy meeting.
Additionally, ServiceTitan is set to debut on the Nasdaq today, offering cloud software solutions for contractors and tradespeople. The company's initial public offering was priced at $71 per share, which exceeded initial expectations.