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Wall Street Closed Mixed

London, Tuesday, 5 December 2023

Tuesday's Wall Street finish was uneven - Wall Street Closed Mixed.

Wall Street closed mixed

Tuesday's Wall Street finish was uneven as investors took in fresh economic information. The S&P 500 finished slightly lower, the Nasdaq gained 0.3%, while the Dow Jones dropped 89 points.

The US job market is cooling as evidenced by the fact that job opportunities fell short of forecasts and reached their lowest level since March 2021. In the meantime, the ISM Services PMI exceeded expectations and kept pointing to a strong services industry.

The jobs report on Friday and the ADP figures that are due tomorrow will be closely watched for additional information on the state of the labour market. At this time, investors are betting that the Fed will begin lowering interest rates in 2019; however, Chair Powell and other officials have pushed back against such predictions.

The tech sector and consumer discretionary outpaced the materials and energy sectors. While Apple (+2.1%), Amazon (+1.4%), Nvidia (+2.3%), Tesla (+1.3%), and Exxonmobil (-1.9%) report losses, these companies outperform the market.

(Source: Trading Economics // Edit by The Decision Maker - Finance editors)


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