12:12 PM EST, 12/06/2024 (MT Newswires) -- US equity indexes traded mixed while most government bond yields declined as investors weighed nonfarm payrolls for November.

The S&P 500 edged 0.2% higher to 6,085.3, the Nasdaq Composite climbed 0.6% to 19,820.3, and the Dow Jones Industrial Average fell 0.2% to 44,663.5 after midday Friday. The S&P 500 and the Nasdaq touched new intraday record highs, and the Dow traded close to its all-time peak.

Consumer discretionary and communication services topped the gainers intraday, while energy led the decliners.

Most Treasury yields declined, with the US 10-year down 2.3 basis points to 4.16% and the two-year dropped 5.2 basis points to 4.09%. The 30-year yield stood little changed at 4.34%.

The nonfarm payrolls report showed Friday that the unemployment rate rose to 4.2% in November from 4.1% in October, compared with expectations for no change. However, payrolls rose by 227,000, above the 220,000 jobs increase expected in a Bloomberg survey compilation. October payrolls saw an upward revision to a 36,000 increase. The September payrolls saw a revision to 255,000 increase, reflecting a net gain of 56,000 jobs.

The probability of a 25 basis-point cut in interest rates in December soared to 87% as of Friday afternoon from 71% a day ago, according to the CME Group's FedWatch Tool. However, only three rate reductions are currently priced through October next year, implying the Fed will be cautious in cutting rates in 2025 given the resilience in the labor market.

In company news, Lululemon Athletica's ( LULU ) shares soared past 18% intraday, the top performer on the S&P 500 and the Nasdaq, after the company reported late Thursday a surge in fiscal Q3 earnings and revenue, and raised its guidance for fiscal 2024.

Ulta Beauty ( ULTA ) shares jumped past 10% intraday, the second-highest return on the S&P 500, after the company reported higher fiscal Q3 earnings per share and net sales while raising its full-year EPS guidance.

West Texas Intermediate crude oil futures slumped 1.4% to $67.36 a barrel.