04:05 PM EST, 12/06/2024 (MT Newswires) -- US benchmark equity indexes ended mixed Friday after official data showed the economy added more jobs than estimated in November.
* Total nonfarm payrolls in the US climbed by 227,000 last month, the Bureau of Labor Statistics reported. The consensus was for a 220,000 increase, according to a survey compiled by Bloomberg. The unemployment rate rose to 4.2% from October's 4.1%, which was the market view for November.
* Cleveland Fed President Beth Hammack said policymakers are likely at or near the point where "it makes sense" to slow the pace of monetary policy easing. "Moving slowly will allow us to calibrate policy to the appropriately restrictive level over time given the underlying strength in the economy," Hammack said.
The Federal Reserve is still expected to lower interest rates by 25 basis points Dec. 18, though the Federal Open Market Committee is expected to "proceed more cautiously in 2025 and skip cutting rates in January," Oxford Economics said.
* January West Texas Intermediate crude oil closed down $1.12 to settle at $67.18 per barrel, while January Brent crude, the global benchmark, was last seen down $1.02 to $71.07 as traders eye the impact of OPEC+'s decision to delay and extend the return of voluntary production cuts to market amid expectations supply will soon begin to swell above demand.
* Lululemon Athletica ( LULU ) shares jumped nearly 16% as the athletic apparel and footwear company logged stronger-than-expected fiscal Q3 results as it benefitted from momentum in international markets.
* UnitedHealth's ( UNH ) insurance unit was ordered by a US judge to again reconsider its previously denied coverage claim for a teenager's $175,000 mental health and substance abuse treatments, saying the latest denial had no legal basis, according to a court document. Its shares retreated 5.2%.