01:53 PM EST, 12/05/2024 (MT Newswires) -- US benchmark equity indexes were mixed intraday as markets evaluated the latest labor market data ahead of the official November jobs report due Friday.

The Nasdaq Composite was up 0.2% at 19,775.4 after midday Thursday, while the S&P 500 rose 0.1% to 6,091.8. The Dow Jones Industrial Average fell 0.2% to 44,907.6. Among sectors, consumer discretionary led the gainers, while materials saw the steepest decline.

In economic news, weekly applications for unemployment insurance in the US rose, while continuing claims declined, the Department of Labor said.

US-based employers cut 57,727 jobs last month, up 3.8% from October and rising 27% annually, Challenger Gray & Christmas said.

On Friday, the Bureau of Labor Statistics is expected to report that the US economy added 215,000 nonfarm jobs last month, which would mark a sharp acceleration from a 12,000 gain posted for October, according to a Bloomberg poll.

On Wednesday, Federal Reserve Chair Jerome Powell reportedly the US economy is strong, potentially allowing policymakers to be cautious with cutting interest rates.

The US two-year yield rose 3.5 basis points to 4.16% intraday, while the 10-year rate was little changed at 4.19%.

In company news, Brown-Forman (BF.A, BF.B) posted fiscal second-quarter results that topped Wall Street's estimates. The wine and spirits maker's class B shares were up nearly 11%, the top gainer on the S&P 500. Its class A shares also jumped 11%.

Tesla (TSLA) was among the best performers on the S&P 500 and the Nasdaq, up 3.8%, as BofA Securities raised its price target on the electric vehicle maker's stock.

Synopsys ( SNPS ) shares slumped 12%, the worst performer on the S&P 500 and the Nasdaq. Late Wednesday, the software company issued a downbeat full-year revenue outlook despite reporting fiscal fourth-quarter results above the Street's expectations.

Dollar General's ( DG ) fiscal third-quarter earnings came in below the Street's views, while revenue beat expectations as the discount retailer narrowed its full-year bottom-line outlook amid hurricane-related business disruptions. The company's shares were down 2% intraday Thursday.

Lululemon Athletica ( LULU ) , Hewlett Packard Enterprise ( HPE ) , Ulta Beauty ( ULTA ) , and DocuSign ( DOCU ) are among the companies scheduled to report results after Thursday's closing bell.

West Texas Intermediate crude oil was down 0.3% at $68.31 a barrel intraday. Certain members of the Organization of the Petroleum Exporting Countries and its allies extended oil production cuts in a move that Rystad Energy said would lower projected supply growth for next year by roughly 1 million barrels a day.

"The announcement makes (it) crystal clear that the group is worried about both a potential supply glut and a lack of compliance with production targets among member countries," Rystad Energy said.

Gold was down 1% at $2,649.90 per troy ounce, while silver declined 1.2% to $31.55 per ounce.