12:01 PM EST, 12/06/2024 (MT Newswires) -- The S&P 500 and the Nasdaq Composite were both up in late-morning trading Friday, while the Dow Jones Industrial Average was down slightly, as investors responded positively to the November jobs report published earlier in the day.

The November employment report showed nonfarm payrolls rose by 227,000, above the 220,000 jobs increase expected in a survey compiled by Bloomberg as of 7:30 a.m. ET. The unemployment rate rose to 4.2% in November from 4.1% in October, compared with expectations of no change, while the labor force participation rate slipped to 62.5% from 62.6% the month prior. Hourly earnings rose by 0.4%, stronger than a 0.3% gain expected and following a 0.4% increase in October.

In company news, a federal appeals court on Friday in Washington upheld a new US law enacted to protect national security and user privacy, meaning TikTok's Chinese parent ByteDance company faces a US ban if it doesn't sell the app by the Jan. 19 deadline, Bloomberg reported Friday.

Lululemon Athletica ( LULU ) reported fiscal Q3 earnings late Thursday of $2.87 per share, up from $1.96 a year earlier and above the consensus estimate of analysts surveyed by FactSet of $2.71. Q3 revenue was $2.40 billion, up from $2.20 a year earlier and above the FactSet consensus of $2.36 billion. The company said it expects fiscal Q4 EPS of $5.56 to $5.64 on revenue between $3.48 billion and $3.51 billion. Analysts polled by FactSet expect EPS of $5.62 billion on revenue of 3.50 billion. For fiscal year 2024, Lululemon said it expected EPS of $14.08 to $14.16 on revenue of $10.45 billion to $10.49 billion. Previous guidance called for EPS of $13.95 to $14.15 on revenue of $10.38 billion to $10.48 billion. Shares of the company were up 18.3% near noon.

Apple's ( AAPL ) in-house series of cellular modem chips that will replace components from Qualcomm ( QCOM ) will debut next spring, Bloomberg reported Friday, citing people familiar with the matter. Apple ( AAPL ) shares were up 0.3%, while those of Qualcomm ( QCOM ) were down 1.1%.

Goldman Sachs ( GS ) has left the Net-zero Banking Alliance, a coalition aimed at aligning bank lending an investments with efforts tackling global climate change, Reuters reported Friday, citing a company statement. The departure follows growing concerns that participating in the Net-Zero Banking Alliance might violate antitrust laws, according to the report. Shares of the company were flat.

AMC Entertainment ( AMC ) said Friday in a regulatory filing it has entered a forward sales and registration agreement with Goldman Sachs ( GS ) to issue and sell up to 50 million shares of class A common stock. The company said it intends to use net proceeds from the sales agent to strengthen its balance sheet and reinvest in the core business. AMC shares were down 8.9%.

Price: 408.33, Change: +63.52, Percent Change: +18.42