NEW YORK — U.S. stocks are kicking off December by drifting around their record heights on Monday.

The S&P 500 rose 0.1% in morning trading after closing its best month of the year at an all-time high. The Dow Jones Industrial Average was down 183 points, or 0.4%, as of 10:05 a.m. Eastern time, and the Nasdaq composite was 0.8% higher.

Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared 15% to help lead the market.

Following accusations of misconduct and the resignation of its public auditor, the maker of servers used in artificial-intelligence technology said an investigation found no evidence of misconduct by its management or by the board. It also said it doesn’t expect to restate its past financials and that it will find a new chief financial officer, appoint a general counsel and make other moves to strengthen its governance.

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Intel Rose, PG&E Drops

Intel rose 2.5% after it said CEO Pat Gelsinger has retired and stepped down from the board. The chip company said it’s looking for Gelsinger’s replacement, and Intel’s chair of the board said it’s “committed to restoring investor confidence.”

Stellantis, meanwhile, skidded following the announcement of its CEO’s departure. The U.S.-traded stock of the world’s fourth-largest automaker fell 7.4%. Carlos Tavares steps down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroën and Ram, amid an ongoing struggle with slumping sales and an inventory backlog at dealerships.

Utility PG&E had the biggest drop in the S&P 500, 5.3%, after saying it would sell $2.4 billion of stock and preferred shares to raise cash.

Retailers were mixed amid what’s expected to be the best Cyber Monday on record. Target, which recently gave a forecast for the holiday season that left investors discouraged, fell 3.2%. Walmart, which gave a more optimistic forecast, added 0.1%.

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Amazon, which looks to benefit from online sales from Cyber Monday, rose 2.1%.

The stock market seemed to be taking Donald Trump’s latest threat on tariffs in stride. The president-elect on Saturday threatened 100% tariffs against a group of developing economies if they act to undermine the U.S. dollar. Trump said he wants the group, headlined by Brazil, Russia, India and China, to promise it won’t create a new currency or otherwise try to undercut the U.S. dollar.

The dollar has long been the currency of choice for global trade. Speculation has also been around a long time that other currencies could knock it off its mantle, but no contender has come close.

USD Rose While Euro Sank

The U.S. dollar’s value rose Monday against several other currencies, but one of its strongest moves likely had less to do with the tariff threats. The euro fell amid a political battle in Paris over the French government’s budget. The euro sank 0.9% against the U.S. dollar and broke below $1.05.

In the bond market, Treasury yields rose and held onto their gains after a report showed the U.S. manufacturing sector is doing slightly better than feared. Manufacturing contracted again last month, but not by as much as economists expected, according to the Institute for Supply Management.

The yield on the 10-year Treasury climbed to 4.23% from 4.18% late Friday.

This upcoming week will have several highly anticipated updates on the job market, including the October job openings report, weekly unemployment benefits data and the all-important November jobs report.

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Elsewhere, Chinese stocks led gains worldwide as monthly surveys showed improving conditions for manufacturing, partly driven by a surge in orders ahead of Trump’s inauguration next month.

Both official and private sector surveys of factory managers showed strong new orders and export orders, possibly partly linked to efforts by importers in the U.S. to beat potential tariff hikes by Trump once he takes office.

Indexes rose 0.7% in Hong Kong and 1.1% in Shanghai, but South Korea’s Kospi slipped 0.1%.

In Europe, France’s CAC 40 fell 0.2%, while Germany’s DAX returned 1%.