financetom
Market
financetom
/
Market
/
US STOCKS-Wall Street little changed as spotlight remains on jobs data
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US STOCKS-Wall Street little changed as spotlight remains on jobs data
Dec 5, 2024 7:42 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

*

Crypto stocks jump after bitcoin crosses $100,000

*

American Airlines ( AAL ) up after raising Q4 adjusted earnings

forecast

*

SentinelOne ( S ) plunges after missing Q3 profit estimates

*

Indexes: Dow down 0.13%, S&P 500 off 0.04%, Nasdaq up

0.05%

(Updates at market open)

By Shashwat Chauhan and Purvi Agarwal

Dec 5 (Reuters) -

Wall Street's main indexes were mostly flat on Thursday

after recording all-time closing highs in the previous session,

though the Nasdaq inched up to an intraday record high ahead of

employment data later this week.

Markets are focused on the crucial monthly jobs report,

which is scheduled for release on Friday.

On the day, data showed the number of Americans filing new

applications for unemployment benefits increased moderately last

week, suggesting that the labor market continued to cool.

"Sentiment is obviously a little restrained. The

question remains if the Fed is going to be able to follow

through with a series of rate cuts given that we've seen a

bounce in inflation and hiring data, et cetera, all improving to

a certain extent," said Michael Green, portfolio manager and

chief strategist at Simplify Asset Management.

At 9:41 a.m. ET, the Dow Jones Industrial Average

fell 60.71 points, or 0.13%, to 44,953.33, the S&P 500

lost 2.20 points, or 0.04%, to 6,084.29 and the Nasdaq Composite

gained 10.66 points, or 0.05%, to 19,745.78.

Most megacap and growth stocks were marginally higher.

However, Tesla outperformed with a 2.5% gain after at

least two brokerages lifted their price target on the electric

vehicle maker's stock.

Cryptocurrency- and blockchain-related stocks jumped after

bitcoin, the world's largest cryptocurrency, stormed

above the $100,000 mark for the first time.

Exchange operator Coinbase Global ( COIN ) rose 4.4%, miner

MARA Holdings ( MARA ) added 6.1% and MicroStrategy ( MSTR ),

the largest corporate holder of bitcoin, advanced 8%.

The S&P 500, the Nasdaq and the Dow

clocked record closing highs on Wednesday as technology shares

rallied after upbeat results from companies including Salesforce ( CRM )

and Marvell Technology ( MRVL ).

U.S. Federal Reserve Chair Jerome Powell appeared to signal

support for a slower pace of interest-rate cuts ahead when he

spoke on Wednesday, saying the economy was stronger at this

point than the central bank had expected in September. San

Francisco Fed President Mary Daly said there was "no sense of

urgency" on reducing borrowing costs further.

Comments from Richmond Fed President Thomas Barkin are due

later in the day.

Southwest Airlines ( LUV ) gained 4.5% as the carrier raised

its forecast for fourth-quarter revenue per available seat

miles, while American Airlines ( AAL ) added 10.6% after lifting

its fourth-quarter adjusted earnings forecast.

Gains in the airlines pushed the Dow Jones Transport

Average Index 0.4% higher.

SentinelOne ( S ) dropped 9% after the cybersecurity firm

missed Wall Street estimates for third-quarter profit.

Synopsys ( SNPS ) fell 6.6% after the chip design software

firm forecast fiscal 2025 revenue below Wall Street

expectations, in part due to a slump in China sales.

Ford was off 2.5% after Wolfe Research downgraded the

automaker's stock to "underperform" from "peer perform".

Advancing issues outnumbered decliners by a 1.06-to-1 ratio

on the NYSE and by a 1.15-to-1 ratio on the Nasdaq.

The S&P 500 posted 23 new 52-week highs and one new low,

while the Nasdaq Composite recorded 68 new highs and 31 new

lows.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Tesla, Meta, Microsoft, IBM, Nvidia: Why These 5 Stocks Are On Investors' Radars Today
Tesla, Meta, Microsoft, IBM, Nvidia: Why These 5 Stocks Are On Investors' Radars Today
Jan 29, 2025
The stock market ended Wednesday in the red, with the Nasdaq Composite falling over 100 points, closing at 19,632.32, down 0.5%. Meanwhile, the S&P 500 also saw a decline, dropping nearly 0.5% to finish at 6,039.31. The Dow Jones Industrial Average dropped 0.3%, to end the day at 44,713.52. The Federal Reserve voted to keep interest rates unchanged, breaking away from a pattern of three consecutive...
Tesla, Apple And 3 Stocks To Watch Heading Into Thursday
Tesla, Apple And 3 Stocks To Watch Heading Into Thursday
Jan 30, 2025
With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows: Wall Street expects Apple Inc. ( AAPL ) to report quarterly earnings at $2.35 per share on revenue of $124.13 billion after the closing bell, according to data from Benzinga Pro. Apple ( AAPL ) shares fell...
Equities Fall as Fed Keeps Interest Rate Unchanged
Equities Fall as Fed Keeps Interest Rate Unchanged
Jan 29, 2025
04:52 PM EST, 01/29/2025 (MT Newswires) -- US benchmark equity indexes closed lower Wednesday as the Federal Reserve held its benchmark lending rate steady and said inflation remained somewhat elevated. The S&P 500 and Nasdaq Composite dropped 0.5% each to 6,039.3 and 19,632.3, respectively. The Dow Jones Industrial Average lost 0.3% to 44,713.5. Real estate saw the steepest decline among...
Benchmark Electronics Q4 Non-GAAP EPS, Sales Decline; Q1 Guidance Set -- Shares Up After Hours
Benchmark Electronics Q4 Non-GAAP EPS, Sales Decline; Q1 Guidance Set -- Shares Up After Hours
Jan 29, 2025
05:18 PM EST, 01/29/2025 (MT Newswires) -- Benchmark Electronics ( BHE ) reported Q4 non-GAAP earnings late Wednesday of $0.61 per diluted share, down from $0.65 a year earlier. Four analysts polled by FactSet expected $0.56. Sales for the quarter ended Dec. 31 was $656.9 million, down from $691.4 million a year earlier. Analysts surveyed by FactSet expected $660.8 million....
Copyright 2023-2026 - www.financetom.com All Rights Reserved