STORY: The S&P 500 and Nasdaq kicked off December with fresh record closing highs on Monday boosted by technology-related shares.

The Dow dipped three-tenths of a percent while the S&P added a quarter percent and the Nasdaq gained about one percent.

Stocks are coming off their biggest monthly percentage gains in a year, with President-elect Donald Trump's potential plans for deregulation and tax cuts seen as lifting the market even higher.

Jay D. Hatfield is CEO and CIO of Infrastructure Capital Advisors.

"We have a 7000 target on the S&P (500), assuming the corporate tax rate goes to 18%. And most investors don't appreciate the direct impact on earnings and the growth rate of both earnings and the economy. So, that's the real upside and that's why we think the market will continue to grind higher, particularly next year as we get more visibility on how big that corporate tax reduction is going to be."

Stocks on the move Monday included Super Micro Computer, which surged more than 28%. The artificial intelligence server maker began its search for a new finance chief based on recommendations from a special committee reviewing the company's accounting practices.

Shares of Intel seesawed until ultimately closing lower after CEO Pat Gelsinger was forced out amid the company's costly turnaround plans.

Tesla shares rose about 3.5%, with Stifel raising its price target on the stock.

Data on Monday from the Institute for Supply Management showed U.S. manufacturing activity improved in November, while the final reading of the S&P manufacturing survey was revised upwards.

Investors now turn their focus to Friday's nonfarm payrolls report for the latest clues on Federal Reserve's next policy moves.