US stock market today S&P 500 Dow Nasdaq: US stock market today ends mixed: Nasdaq gains but S&P 500, Dow fall for third day as November jobs report, oil price crash and AI selloff raise concerns
S&P 500 and Dow Fall for Third Consecutive Session, Nasdaq Gains
According to the CNBC report, the S&P 500 fell for the third day in a row, falling 0.24% to close at 6,800.26 points, while the Dow Jones Industrial Average fell more sharply, losing 302.30 points, or 0.62%, to close at 48,114.26 points. Nasdaq Composite managed to reverse the trend, ending the session at 23,111.46 with a 0.23% increase.
November Jobs Report Sends Mixed Signals
Markets reacted to the delayed release of the November jobs report, which showed the U.S. economy added 64,000 jobs during the month, according to the Bureau of Labor Statistics. According to the CNBC report, this figure was above economists’ expectations of 45,000 jobs.
But the report also found that October payrolls were revised lower, indicating a loss of 105,000 jobs. According to a CNBC report, the unemployment rate rose to 4.6%, slightly above the 4.5% forecast, raising concerns about slowing momentum in the labor market.
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Fed Rate Cut Expectations Do Not Change
Despite mixed signals, expectations for Federal Reserve policy remain largely unchanged. The CME FedWatch Tool showed futures traders priced the chance of a rate cut next month at 24%; This rate is the same as the previous day.
Analysts Seems the US Economy is “Holding Its Breath”
“Today’s data shows an economy breathing,” Gina Bolvin, president of Bolvin Asset Management Group, said, as quoted by CNBC. “Job growth continues, but cracks are forming. Consumers are still afloat, but not accelerating. This combination gives the Fed more freedom to act without panicking and gives investors a reason to lean into quality, income and long-term themes rather than short-term noise,” Bolvin said, as quoted in the report.
Energy Stocks Slip as Oil Reaches Multi-Year Lows
According to the CNBC report, energy stocks were among those most affected by the decline in US crude oil prices to their lowest level since the beginning of 2021. Shares of major oil producers Exxon Mobil and Chevron fell nearly 2%, while ConocoPhillips and Marathon Petroleum also fell.
Tech Stocks Are Mixed Amid Artificial Intelligence Profit-Taking
Technology stocks were mixed after losses at the beginning of the week. High-profile AI names took profits on Monday, weighing on the broader market as companies such as Broadcom, Oracle and Microsoft closed lower. Some investors are shifting away from high-flying tech stocks and into more defensive sectors like healthcare and utilities.
Eric Diton, president and chief executive of The Wealth Alliance, told CNBC: “It’s totally normal for the AI trade and the tech trade to sell off and take a breather,” adding, “Are there risks? Of course.” “But is this an unhealthy market? No, we’re actually seeing the market expand.”
Today’s Stock Market Winners: Leading Market Winners in Finance and Technology
On the gainers’ side, financial and technology stocks dominated the day’s strongest performers. According to The Street report, buy now pay later company Sezzle gained 10.8% in value after announcing a $100 million share buyback program, while rival Affirm increased by 9%. Data center REIT Fermi gained 9.8% as shares rebounded from recent losses tied to leasing concerns. UBS Group rose 4.8% on corporate activity and easing regulatory pressures in Switzerland.
Losers of the Stock Market Today: Energy and Biotechnology Stocks Predominate in the Market
Meanwhile, energy stocks topped the laggard list. Travel platform Navan Inc tumbled 14.3% after reporting earnings that showed widening losses following its IPO and announcing the departure of its chief financial officer, The Street reported. PBF Energy fell 9.5%, while biotech firms Arrowhead and Corcept Therapeutics fell more than 9%. Semiconductor company AMKOR lost 9%, and optics and photonics company Lumentum Holdings lost 6.6%.
FAQ
Why did the S&P 500 fall again today?
Investors reacted cautiously to mixed jobs data and ongoing sector rotation.
What did the November jobs report show?
The report also showed that 64,000 new jobs were added but unemployment rose to 4.6%.
