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US open: Stocks mixed following JOLTS report

By Iain Gilbert

Date: Tuesday 05 Dec 2023

US open: Stocks mixed following JOLTS report

(Sharecast News) - Wall Street trading got off to a mixed start on Tuesday after major indices' recent rally came to a halt in the previous session.
As of 1525 GMT, the Dow Jones Industrial Average was down 0.38% at 36,067.41, while the S&P 500 was 0.04% weaker at 4,567.76 and the Nasdaq Composite came out the gate 0.41% firmer at 12,244.00.

The Dow opened 137.03 points lower on Tuesday, extending losses recorded in the previous session and marking a departure from the blue-chip's recent winning streak.

In focus early on Tuesday was the Bureau of Labor Statistics' JOLTS jobs survey, which revealed the number of job openings decreased by 617,000 month-on-month to 8.733m in October, marking the lowest level since March 2021 and falling short of expectations for a reading of 9.3m. During the month, job openings decreased in health care and social assistance, finance and insurance, and real estate and rental and leasing. On the other hand, job openings increased in information. Regarding regional distribution, job openings fell in the South, the Midwest, the West, and the Northeast.

The report will be welcomed by traders hoping for evidence that the Federal Reserve's interest rate increases have had the intended impact on the economy. The benchmark 10-year Treasury yield was down more than seven basis points at 4.188% shortly after the JOLTS survey was released.

Elsewhere on the macro front, the Institute for Supply Management's services PMI increased to 52.7 in November, up from 51.8 in October, beating forecasts for a print of 52. The reading pointed to stronger growth in the services sector, amid faster increases in business activity/production and employment. At the same time, new orders remained strong and inventories rebounded, while price pressures slowed slightly.

Finally, S&P Global's composite PMI was confirmed at 50.7 in November, unchanged from October's three-month high, while the services PMI came in at 50.8 in November, up from 50.6 in October and the highest reading in four months.

Turning abroad, Moody's lowered its outlook on China to 'negative' from 'stable' as debt levels across the nation continued to rise, with Beijing now moving to support the Chinese economy via fiscal stimulus measures. This news comes as the Caixin China services purchasing managers' index climbed to its highest in three months during November, diverging from the nation's official PMI reading and coming in at 51.5 last month, rising from 50.4 in October and 50.2 in September.

On another note, news that the Reserve Bank of Australia had held its benchmark policy rate at 4.35% in its December meeting was also drawing an amount of attention, noting that while there had been encouraging signs on goods inflation, services price inflation has remained persistent. The Australian central bank's decision comes as many traders continue to speculate what moves the Federal Reserve may take at its upcoming policy meeting next week.

No major corporate earnings were slated for release on Tuesday.

Reporting by Iain Gilbert at

Dow Jones - Risers

Apple Inc. (AAPL) $193.35 2.07%
Verizon Communications Inc. (VZ) $38.31 0.70%
Caterpillar Inc. (CAT) $256.50 0.69%
Microsoft Corp. (MSFT) $370.91 0.48%
International Business Machines Corporation (CDI) (IBM) $161.66 0.35%
Nike Inc. (NKE) $115.34 0.17%
McDonald's Corp. (MCD) $286.57 0.15%
Walmart Inc. (WMT) $154.42 0.08%
Dowdupont Inc. (DWDP) $0.00 0.00%
Travelers Company Inc. (TRV) $183.13 -0.03%

Dow Jones - Fallers

Procter & Gamble Co. (PG) $147.69 -2.87%
Dow Chemical Co. (DOW) $51.15 -1.82%
3M Co. (MMM) $102.01 -1.38%
Amgen Inc. (AMGN) $268.94 -1.32%
Goldman Sachs Group Inc. (GS) $345.30 -1.17%
Boeing Co. (BA) $232.25 -1.12%
Walgreens Boots Alliance, Inc. (WBA) $20.66 -0.63%
Merck & Co. Inc. (MRK) $104.40 -0.63%
American Express Co. (AXP) $172.18 -0.62%
Cisco Systems Inc. (CSCO) $47.76 -0.61%

S&P 500 - Risers

J. M. Smucker Co. (SJM) $116.79 3.88%
Alaska Air Group Inc. (ALK) $35.26 3.45%
AT&T Inc. (T) $17.15 2.94%
CVS Health Corp (CVS) $70.29 2.64%
Apple Inc. (AAPL) $193.35 2.07%
Norwegian Cruise Line Holdings Ltd (NCLH) $17.86 2.06%
Nvidia Corp. (NVDA) $463.83 1.92%
Amazon.Com Inc. (AMZN) $147.02 1.51%
AutoZone Inc. (AZO) $2,700.00 1.35%
Carnival Corp. (CCL) $16.57 1.35%

S&P 500 - Fallers

Kohls Corp. (KSS) $24.05 -5.94%
Albemarle Corp. (ALB) $115.15 -4.03%
Macy's Inc. (M) $16.85 -3.58%
Keycorp (KEY) $12.98 -3.42%
Carmax Inc. (KMX) $65.96 -3.39%
Sealed Air Corp. (SEE) $32.37 -3.37%
Regions Financial Corp. (RF) $17.08 -3.17%
Vornado Realty Trust (VNO) $26.88 -3.17%
Foot Locker Inc. (FL) $28.94 -3.10%
Bath & Body Works, Inc. (BBWI) $35.77 -3.06%

Nasdaq 100 - Risers

Tesla Inc (TSLA) $241.82 2.65%
Apple Inc. (AAPL) $193.35 2.07%
Nvidia Corp. (NVDA) $463.83 1.92%
Amazon.Com Inc. (AMZN) $147.02 1.51%
Alphabet Inc. Class C (GOOG) $132.21 1.21%
Alphabet Inc. Class A (GOOGL) $130.82 1.20%
Dollar Tree Inc (DLTR) $129.20 0.76%
Costco Wholesale Corp. (COST) $603.57 0.75%
Asml Holdings N.V. (ASML) $695.40 0.74%
Check Point Software Technologies Ltd. (CHKP) $146.43 0.67%

Nasdaq 100 - Fallers

Qurate Retail Inc. (QRTEA) $0.91 -4.44% Group Limited (TCOM) $32.81 -2.63%
Dish Network Corp. (DISH) $3.82 -2.55%
Lam Research Corp. (LRCX) $692.62 -2.46%, Inc. (JD) $26.06 -2.01%
American Airlines Group (AAL) $13.10 -1.91%
Paypal Holdings Inc (PYPL) $58.77 -1.80%
Western Digital Corp. (WDC) $46.63 -1.76%
Align Technology Inc. (ALGN) $216.14 -1.58%
Wynn Resorts Ltd. (WYNN) $82.59 -1.55%


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