Last Updated 4:02PM EST
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Stock indices finished today’s trading session mixed as investors digested today’s JOLTS data. Indeed, the Nasdaq 100 (NDX) gained 0.24%, while the S&P 500 (SPX) and the Dow Jones Industrial Average (DJIA) fell 0.06% and 0.22%, respectively.
The energy sector (XLE) was the session’s laggard, as it fell %. Conversely, the technology sector (XLK) was the session’s leader, with a gain of %.
Furthermore, the U.S. 10-Year Treasury yield decreased to 4.17% while the Two-Year Treasury yield also slipped, as it hovers around 4.58%.
Last updated: 10:30AM EST
Stocks were mixed at the time of writing after the Job Openings and Labor Turnover Survey (JOLTS) data was released. The Nasdaq 100 (NDX) was up by 0.27%, while the S&P 500 (SPX) and the Dow Jones Industrial Average (DJIA) were down 0.04% and 0.29%, respectively.
The JOLTS data indicated that job openings declined to a 28-month low of 8.7 million in October from 9.35 million in September. This was lower than economists’ forecasts of 9.4 million and showed that the jobs market was cooling off. The jobs opening rate of 5.3% fell from 5.6% in September, while the quits rate stood at 2.3% for the fourth straight month.
The ISM survey of business conditions at service companies, such as restaurants and hotels, showed that the PMI index rebounded to 52.7% in November from a five-month low of 51.8% in October. Economists were expecting the index to rise to 52.4%. When this indicator is over 50%, it indicates expansion in the economy. The index has been above 50 for 11 straight months so far.
First published: 3:58AM EST
U.S. Futures are cooling off a bit after exhibiting strong performance in the past week. After closing lower on Monday, U.S. index futures were in the red early Tuesday. Futures on the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.47%, 0.29%, and 0.19%, respectively, at 3:18 a.m. EST, December 5.
In major news, gold prices hit an all-time high, touching $2,135.39 per ounce. The expected stabilization in the interest rate environment and gold’s perceived safe-haven status amid the current uncertain macro environment is pushing its prices higher.
In after-hours action, shares of GitLab (NASDAQ:GTLB) jumped over 16%. Surprisingly, the software company reported earnings of $0.09 per share in Q3, compared to analysts’ consensus estimate of a loss of $0.01 per share. Further, it issued stronger-than-expected Q4 guidance. Conversely, shares of aerospace and space travel company Virgin Galactic (NYSE:SPCE) continued their downward trend. This decline follows a 17.52% drop on Monday, triggered by Richard Branson’s announcement that he would not invest further in the company.
Moving on to key earnings releases, Chinese electric vehicle (EV) maker Nio (NYSE:NIO) will release its third-quarter Fiscal 2023 earnings. Wall Street analysts are expecting Nio to report a loss of $0.36 a share, compared to a loss of $0.30 in the same quarter last year. Simultaneously, analysts anticipate NIO to deliver revenue of $2.71 billion in Q3, compared to $1.83 billion in the prior-year quarter.
Meanwhile, oil prices were trending higher at the time of writing due to the growing Middle-east tension and voluntary output cut by OPEC+ nations. The WTI crude oil futures were up, hovering near $73.46 per barrel as of the last check.
Elsewhere, European indices are set to open a mixed note as investors carefully consider the possibility of interest rate adjustments by major central banks in the coming year.
Asia-Pacific Markets Ended Lower on Monday
Asia-Pacific indices ended Tuesday in negative territory as investors evaluated the release of several economic data sets, including Tokyo and South Korea’s key inflation figures. Further, they await private PMI data from Hong Kong and India.
Hong Kong’s Hang Seng index closed lower by 2.07%, and China’s Shanghai Composite and Shenzhen Component indexes ended down by 1.67% and 1.97%, respectively.
Japan’s Nikkei and Topix indices finished lower by 1.37% and 0.84%, respectively.
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