he Nasdaq and the S&P 500 rose to record closing highs on Friday following upbeat forecasts from Lululemon Athletica and other companies and as U.S. jobs data fueled expectations the Federal Reserve would cut interest rates this month.
The Dow finished lower, as a drop in UnitedHealth Group (UNH.N), shares weighed on the index.
The S&P 500 consumer discretionary index (.SPLRCD), led gains among sectors, boosted by Lululemon.
Shares of Lululemon Athletica (LULU.O), jumped after the sportswear maker increased full-year forecasts.
Also in the consumer discretionary space, shares of cosmetics retailer Ulta Beauty (ULTA.O), advanced after the company raised its annual profit forecast.
The U.S. Labor Department report showed job growth surged in November, but an increase in the unemployment rate to 4.2% pointed to an easing labor market.
According to preliminary data, the S&P 500 (.SPX), gained 13.65 points, or 0.22%, to end at 6,088.76 points, while the Nasdaq Composite (.IXIC), gained 153.96 points, or 0.78%, to 19,854.69. The Dow Jones Industrial Average (.DJI), fell 133.85 points, or 0.30%, to 44,637.48.
Following the data, U.S. rate futures were pricing in roughly a 90% chance the Fed will lower interest rates by 25 basis points at its Dec. 17-18 policy meeting, according to LSEG calculations which previously saw just a 72% chance.
The Fed has lowered rates by 75 basis points since September, when it launched its easing cycle.
Fed Governor Michelle Bowman said inflation risks remained, which augured caution with rate decisions.
Source : Reuters
Stocks rose on Monday as Wall Street tried to regain its footing after a week in which the artificial intelligence trade lost some steam. The Dow Jones Industrial Average traded 70 points higher, or ...
The STOXX 50 went up 0.3% and the STOXX 600 rose 0.2% on Monday, tracking a general positive tone across European equity markets in Asia and the US. Traders were also digesting corporate news and eco...
Asia-Pacific markets traded mixed Monday, while the Reserve Bank of Australia will kickstart its two-day policy meeting where it is expected to hold its cash rate steady at 3.6%, according to a Reuter...
US stocks closed higher on Friday (September 26th), as investors reacted positively to an inflation report that met expectations, while also considering President Trump's new wave of tariffs and weake...
European stocks closed sharply higher on Friday, recovering from losses in the previous two sessions, as markets reassessed the impact of new US tariffs and how major European companies should navigat...
The U.S. on Monday cracked down on companies in China and other countries that use subsidiaries or other foreign affiliates to get around curbs on chipmaking equipment and other goods and technology. The Commerce Department issued a new rule...
Stocks rose on Monday as Wall Street tried to regain its footing after a week in which the artificial intelligence trade lost some steam. The Dow Jones Industrial Average traded 70 points higher, or 0.2%. The S&P 500 climbed 0.4%, and the...
The dollar weakened on Monday (September 29) amid concerns over a potential government shutdown, with the yen outperforming the euro ahead of a series of US economic data releases that could provide further clues about the direction of Federal...
US President Donald Trump on Thursday announced sweeping new import tariffs, including a 100% duty on brand-name drugs and a 25% levy on heavy-duty...
US stocks closed higher on Friday (September 26th), as investors reacted positively to an inflation report that met expectations, while also...
European stocks closed sharply higher on Friday, recovering from losses in the previous two sessions, as markets reassessed the impact of new US...
Asia-Pacific markets traded mixed Monday, while the Reserve Bank of Australia will kickstart its two-day policy meeting where it is expected to hold...