NEW YORK - The Nasdaq and S&P 500 rose on Dec 2 along with tech-related shares after the market posted a strong November ahead of this week’s economic data including the key monthly jobs report on Nov 29.

The Dow was down slightly on the day. Both the Dow and S&P 500 recorded their best months in a year on Friday.

Technology, communication services and consumer discretionary shares were the only positive sectors on Dec 2. Tesla shares rose 3.2 per cent, with Stifel raising its price target on the stock.

“We’re seeing a market that’s in a seasonably strong period just creep higher,” said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.

“It’s a tough time for people to bail out, but by the same token, I don’t see an explosive finish to the year. There’s just too much uncertainty to where we’re headed. ... No one is quite sure what the plan is economically with the new administration.”

Former U.S. President Donald Trump recaptured the White House in last month’s election and his Republican Party swept both houses of Congress, boosting stocks in November.

The Dow Jones Industrial Average fell 77.79 points, or 0.17 per cent, to 44,832.86, the S&P 500 advanced 15.34 points, or 0.25 per cent, to 6,047.61 and the Nasdaq Composite gained 174.03 points, or 0.91 per cent, at 19,392.20.

Trump’s potential plans for tax cuts and deregulation are seen as likely to lift the market while tariffs would be negative.

Data from the Institute for Supply Management (ISM) showed U.S. manufacturing activity improved in November, while the final reading of the S&P manufacturing survey was revised upwards to 49.7, compared to a previous reading of 48.8.

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